PC Jeweller shares slip 4% as Sebi warns MD Balram Garg, company secretary over insider-trading compliance
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Shares of PC Jeweller Ltd fell over 4% on Monday after markets regulator Securities and Exchange Board of India (Sebi) issued administrative warning letters to the company's promoter and managing director, Balram Garg, and company secretary and compliance officer, Vijay Panwar, over non-compliance with insider-trading disclosure requirements.
The stock declined 4.19% to ₹14.83 on the BSE, against its previous close of ₹15.48. It recovered some losses to close at ₹14.96, down 3.36% from the previous close.
In a stock exchange filing on Monday, PC Jeweller said the warning letters pertained to its failure to maintain a structured digital database (SDD) in connection with unpublished price-sensitive information (UPSI) relating to its business update for the quarter ended June 30, 2025.
The company said it had not maintained the required database for the business update, which was disclosed to the stock exchanges on July 3, 2025.
However, PC Jeweller said the trading window for designated persons and their immediate relatives remained closed from July 1, 2025, until August 3, 2025, two days after the company announced its quarterly results on August 1.
"This is to inform that Securities and Exchange Board of India has issued administrative warning letters to Shri Balram Garg, Promoter & Managing Director and Shri Vijay Panwar, Company Secretary and Compliance Officer of the Company for non-maintenance of structured digital database in relation to business update given by the Company for the quarter ended June 30, 2025," the company said, while adding, "In this matter the Company would like to submit although the Company has not maintained structured digital database in relation to above said business update disclosed to the exchanges on July 03, 2025 but the trading window was closed for designated persons and their immediate relatives from July 01, 2025 till two days after the date of declaration of results for the quarter ended June 30, 2025 on August 01, 2026 i.e. till August 03, 2025."
Under Sebi's insider trading regulations, listed companies are required to maintain a structured digital database containing details of individuals with whom unpublished price-sensitive information is shared, along with the nature of the information and the date and time of sharing.
The database is intended to strengthen monitoring of information flows and prevent insider trading.