PC Jeweller gets One Time Settlement proposal by Canara Bank, shares gain
Meanwhile, the counter of PC Jeweller surged around 5 per cent Friday. The scrip opened with a gain of around 5 per cent from the previous close of 81.75.
PC Jeweller has informed exchanges that it has received approval on the 'One Time Settlement' or OTS proposal submitted to Canara Bank.
"The Company had opted for OTS to settle the outstanding dues. The terms and conditions of approved OTS include cash and equity components payable under settlement, release of securities and mortgaged properties etc," 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 Friday. The scrip opened with a gain of around 5 per cent from the previous close of 81.75.
The counter has been gaining since the last five days and has risen 27.59 per cent in the period.
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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