Credit rating agency, CARE Ratings has downgraded the rating to the Fixed Deposit Programme of PC Jeweller to ‘B (FD) Stable’. The revision in the rating assigned to the medium term instrument of the company factors in stressed liquidity position and deterioration in the financial flexibility of the company as reflected in instances of overutilization of its fund based and non-fund based limits in past few months, continuous decline in market capitalization and declining cash and bank balance.
PC Jeweller is engaged in manufacturing jewelry products. It offers gold and diamond jewelry and silver articles. Its products include bangles, bracelets, earrings, pendant set, necklaces, pendant, nose rings and rings.
Company Name | CMP |
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Titan Co | 3409.15 |
Kalyan Jewell.India | 401.50 |
Rajesh Exports | 300.45 |
Sagar Diamonds | 30.50 |
Senco Gold | 838.35 |
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