Thursday, 15 February 2018

PC Jeweller says co does not use letters of credit in business transactions | Trade Nivesh Investment

PC Jeweller Ltd today clarify that it has make timely disclosures of all events, information etc. that have a bearing on the operation/performance of the company, which includes price sensitive information etc.
“The company is not having any such information, which requires disclosure as aforesaid. We are not aware of the reason of sudden decrease in price of equity shares of the company today," the company said in the BSE filing.
Further, the company said in the filing, “However, we would like to assure our investors, shareholders, etc., that the fundamentals of the company remain strong and it continues to move ahead as per its laid down business plans."
It said it does not use letters of credit or letters of undertaking while carrying out its business operations.
The company clarified that it does not use the instruments of LUT/LoC etc. in its business transactions. The company does not have any international transactions in diamonds, it procures all its diamonds from local markets on cash basis only, it added. 
Today, shares of PC Jeweller ended at Rs356.4, down by Rs20 or 5.31% from its previous closing of Rs376.4 on the BSE. The scrip opened at Rs379.4 and touched a high and low of Rs380 and Rs303, respectively.

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