According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.
Jewellery manufacturer and retailer PC Jeweller on Friday reported a surge in consolidated profit after tax at Rs 129.64 crore during the quarter ended December.
Thus far in CY19, most gems and jewellery stocks have underperformed the market. Stocks such as Goenka Diamond & Jewels and PC Jeweller have slumped up to 61% as compared to 3% rise in the Sensex
The stock surged 21% to Rs 212, bouncing back more than 100% from its 52-week low touched on last Thursday, after the company preponed the board meeting to consider share buyback proposal.
The stock moved higher by 24% to Rs 150 on the BSE on Friday in intra-day trade, rallied 58% from its 52-week low of Rs 95 recorded on Thursday in intra-day deal.
The stock hit fresh 52-week low of Rs 95 in intra-day trade, bounced back 34% to Rs 127 in early noon deal, trading 7% lower at Rs 103 on the NSE at 12:25 pm.