Shares of a leading jewellery company rose 5 percent following the announcement of a record date for its 1:10 stock split. This move is expected to enhance liquidity and make the stock more accessible to a broader range of investors.
Price Movement
During Friday’s trading session, the share price of PC Jeweller Ltd reached an intra-day high of Rs.164.00 per share rising 5 percent from its previous close of Rs.156.23 apiece. The shares adjusted since then and currently trading at Rs.162.00 per share. Over the past one year, the stock has delivered returns of over 460 percent.
What happened
PC Jeweller Ltd has announced that the Board of Directors, in a resolution passed on November 28, 2024, has decided to subdivide its equity shares. Each existing equity share of Rs.10 face value will be split into 10 equity shares with a face value of Rs.1 each.
The record date for determining the eligibility of shareholders for the sub-division is set for December 16, 2024. There is no book closure for this purpose.
Business Expansion
PC Jeweller is involved in various aspects of the jewelry industry, including the manufacturing of gold and diamond-studded jewelry. The company also focuses on B2B exports, particularly to the Gulf region through Dubai-based dealers. In addition, PC Jeweller operates large-format standalone stores in prime locations, where it offers a range of hallmarked and certified jewelry.
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Financial Performance
In its recent financial updates, PC Jeweller Ltd reported revenue of Rs.505 crore in Q2 FY25, increasing 12.5 percent from Rs.449 crore in Q2 FY24. The net profit also inclined to Rs.179 crore, compared to a net loss of Rs.138 crore in the same period.
Shareholding Pattern
As per the September 2024 shareholding pattern, the promoters of PC Jeweller Ltd hold a 47.39 percent stake, while Foreign Institutional Investors hold a 3.29 percent stake. Domestic Institutional Investors and Retail investors hold a stake of 1.37 percent and 47.94 percent, respectively in the company.
Company Profile
PC Jeweller Limited, established in 2005, is a prominent Indian jewelry retailer headquartered in New Delhi. The company operates 80 showrooms across 66 cities and specializes in the manufacture and sale of gold, diamond, and silver jewelry. PC Jeweller is known for its focus on high-quality, hallmarked, and certified products.
Written by – Siddesh S Raskar
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