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
- Sectors in the story: Banks.
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