MARKETS
PC Jeweller has informed exchanges that its board has approved the allotment of 4.35 lakh equity shares of face value of Rs 10 each upon conversion of warrants. The new equity shares so allotted shall rank pari-passu with the existing equity shares of the Company. According to an exchange filing, the allotment has been done upon receipt of the balance amount aggregating to Rs 1,83,76,219.80 at the rate of Rs 42.15 per warrant (being 75% of the issue price per warrant) pursuant to the exercise of their rights of conversion of warrants into equity shares. Meanwhile, Gold prices on Wednesday increased Rs 380 to Rs 76,740 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 380 or 0.5 per cent at Rs 76,740 per 10 grams in a business turnover of 14,873 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Earlier, India's gems and jewellery exports declined 18.79 per cent to USD 2.01 billion in August due to sluggish global demand, according to GJEPC data. The exports stood at USD 2.47 billion during August 2023, Gem Jewellery Export Promotion Council (GJEPC) said. However, it said the shipments during the month under review improved from July, when it was USD 1.66 billion. 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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