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PC Jeweller recovers on bargain hunting

Capital Market 

PC Jeweller rose 1.78% to Rs 510 at 14:25 on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P Sensex was down 11.68 points or 0.04% at 31,299.89. The S&P Mid-Cap index rose 17.36 points or 0.12% at 14,835.10.

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 77,050 shares in the past one quarter. The stock had hit a high of Rs 513.75 and a low of Rs 501 so far during the day. The stock had hit a record high of Rs 585 on 29 May 2017 and a 52-week low of Rs 288.75 on 15 November 2016.

The stock had outperformed the market over the past one month till 19 June 2017, gaining 11.27% compared with the Sensex's 2.78% rise. The stock had also outperformed the market over the past one quarter, advancing 20.38% as against the Sensex's 5.61% rise. The scrip had also outperformed the market over the past one year, surging 31.56% as against the Sensex's 17.6% rise.

The mid-cap company has equity capital of Rs 179.21 crore. Face value per share is Rs 10.

Shares of PC Jeweller had declined 5.55% in the preceding seven trading sessions to settle at Rs 501.10 yesterday, 19 June 2017, from its close of Rs 530.55 on 8 June 2017.

PC Jeweller's net profit rose 39.7% to Rs 110.05 crore on 15.2% growth in net sales to Rs 2155.43 crore in Q4 March 2017 over Q4 March 2016.

PC Jeweller is one of the leading jewellery companies in India in the organized jewellery retail sector.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 14:29 IST
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