PC Jeweller gets ‘One Time Settlement’ proposal by Bank of India
Meanwhile, the counter of PC Jeweller surged around 5 per cent on Friday. The scrip opened at Rs 165.55 on the BSE and gained further to touch the high of Rs 169.50.
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PC Jeweller has informed exchanges that it has received approval on the 'One Time Settlement' or OTS proposal submitted to the Bank of India.
"The Company had opted for OTS to settle the outstanding dues. The terms and conditions of OTS include cash and equity components payable under settlement, release of securities and mortgaged properties etc. With this approval, all the fourteen consortium member banks have approved the OTS proposal submitted earlier by the Company," the company said in an exchange filing.
Earlier, the Bank of Baroda approved the One Time Settlement ("OTS") proposal submitted by the company.
Meanwhile, the counter of PC Jeweller surged around 5 per cent on Friday. The scrip opened at Rs 165.55 on the BSE and gained further to touch the high of Rs 169.50.
On technical parameters, the stock of PC Jeweller is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
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