New Delhi, June 10 -- Motisons Jewellers shares witnessed strong buying interest on Wednesday, June 10, after the company launched its Qualified Institutions Placement (QIP) issue on June 9 and fixed a floor price of Rs.11.58 per equity share for the offering.

The stock surged as much as 6.5% during intra-day trade to hit a high of Rs.12.79. However, it pared some gains and settled 2% higher at Rs.12.25 on the BSE.

Despite the positive reaction in Wednesday's session, the stock has remained under pressure over the past few months. Motisons Jewellers shares have declined 8% in the last one month, 14% over the past three months, 23% in the last six months and 36% on a one-year basis.

The company's board of directors, at its meeting held ...