PC Jeweller was able to achieve a standalone revenue growth of approximately 80 percent in Q1, despite volatility in gold prices.
With this approval, all the fourteen consortium member banks have approved the OTS proposal submitted earlier, said PC Jeweller.
PC Jeweller's performance over the last few quarters was severely impacted by various litigations filed by banks in different legal forums, including the NCLT
Secretary of the Department of Financial Services, Vivek Joshi, asked banks to move forward in declaring defaults, so that companies can move towards the resolution process.
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PC Jewellers can move to Rs 150-155. says SP Tulsian, sptulsian.com. They are increasing their showroom from 30 to additional 20 that means the total showrooms will get increased to about 50.
In an interview to CNBC-TV18, Ambareesh Baliga, an independent analyst gives his predictions on the IPO listing of PC Jewellers. Baliga says he doesnt expect much movement immediately in the stock. "It will list more or less flat or possibly at a small discount, " he adds.