Mumbai: Shares of PC Jeweller Ltd surged nearly 117% in last three sessions ahead of its board meeting on 10 May to consider buyback of shares. At 10am, PC Jeweller shares was trading at Rs220 a share on BSE, up 26% from previous close. Read more: Gift to family helps wipe $2.8 billion off PC Jeweller’s valueIn January, banking and financial services provider Vakrangee Ltd purchased two million shares of PC Jeweller for a little over Rs112 crore through an open market transaction. PC Jeweller stock witnessed selling pressure after a 27 January report in Mumbai Mirror said that the Securities and Exchange Board of India was investigating an alleged share price and volume manipulation at Vakrangee. According to the company, Vakrangee currently does not hold any stake in PC Jeweller.

Source: Mint May 07, 2018 05:37 UTC