PC Jeweller shares soar 26% in just two sessions. Here’s what’s triggering the sharp surge
A promoter activity development with market-wide reach.
· Economic Times Markets, ET Stocks
PC Jeweller shares rallied 26% in two sessions after Cupid promoter Aditya Kumar Halwasiya bought 5.10 crore shares worth Rs 73.60 crore. The jewellery maker recently repaid its dues to 14 consortium banks, achieving debt-free status ahead of schedule.
The analysis
Promoters buy and sell with more information than anyone; the direction of their conviction is a signal in itself.
Market context
- Sector exposure: Banks.
- The immediate tone of coverage reads positive.
In this story
Related coverage
Central Bank of India Q2 profit rises 21% as loans grow 30%
Ixigo shares jump 13% on Q2 profit turnaround, but why does Motilal Oswal retain its Neutral rating?
Why are banking stocks falling? Nifty Bank down 1%; Axis, HDFC Bank shares crash up to 5% - What should investors do?
ICICI Prudential Life Insurance to focus on growing absolute VNB amid slump in FY24
ICICI Pru Life Q4 net profit falls 26% to Rs 174 cr, insurer announces dividend