MARKETS
PC Jeweller has informed exchanges that it has received approval on the 'One Time Settlement' or OTS proposal submitted by to Bank of Baroda. "This is to inform that Bank of Baroda vide its letter dated July 18, 2024, which was received by the Company on July 20, 2024, has conveyed its approval to the One Time Settlement ("OTS") proposal submitted by the Company. 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. Meanwhile, the counter of PC Jeweller surged around 5 per cent today. The scrip opened with a gain of 2.3 per cent from the previous close of 67.27 and surged further to touch the high of Rs 70.63. This is a gain of 4.99 per cent from the previous close. Last seen, the counter was trading at Rs 70.39. The counter has gained after two days of consecutive falls. The surge comes even as equity benchmark indices declined in early trade. The 30-share BSE Sensex tanked 504 points to 80,100.65 in early trade. The NSE Nifty dropped 168.6 points to 24,362.30. In Asian markets, Seoul, Tokyo and Shanghai were trading lower while Hong Kong quoted in the positive territory. The US markets ended lower on Friday. Global oil benchmark Brent crude climbed 0.67 per cent to USD 83.18 a barrel. Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Business Twitter and Facebook . Subscribe on YouTube . None
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