PC Jeweller loses $2.6 bn after founder gifts shares to family

Delhi-based PC Jeweller has lost $2.57 billion in market capitalisation after founder Padam Chand Gupta gifted shares to one of his family members, besides reports of the company's affiliation with financial services firm Vakrangee. Shares of PC Jeweller have eroded nearly 71% of their value since a record high in January, taking its market capitalisation to $1.03 billion.