PC Jeweller extends gain for second session, rises 5% after stock split

Shares of PC Jeweller rallied up to 4.90 per cent at 19.25 per share on the BSE in Tuesday’s intraday deals. The stock of the company has surged 10.12 per cent in the last two sessions after the company’s shares began trading ex-date for its stock split in a 1:10 ratio on Monday. 

 

The ex-date (or ex-split date) is the date on or after which a stock trades without the entitlement to the stock split benefit. Investors who buy the stock on or after the ex-date will not be eligible for the additional shares from the split.

 

The jewellery company had announced a stock split earlier in September to improve liquidity and make its shares more accessible to retail investors.  

 

In an exchange filing, the company stated, "The Board of Directors of the Company, by means of a resolution passed by circulation today, i.e., on November 28, 2024, has fixed the Record Date as December 16, 2024, for the purpose of sub-division/split of equity shares. Accordingly, one equity share with a face value of Rs 10 each, fully paid-up, will be sub-divided/split into ten equity shares with a face value of Rs 1 each."

 

Financially, PC Jeweller reported a turnaround in its financial performance for the second quarter of FY25 (Q2FY25). The company's sales surged to Rs 505 crore, compared to Rs 33 crore in the same period of FY24. 

 

Profit after tax (PAT) also saw a dramatic improvement, reaching Rs 179 crore in Q2FY25, up from a loss of Rs 152 crore in the corresponding quarter of the previous fiscal year. 

 

Meanwhile, on the equities side, PC Jeweller’s stock has outperformed the market year to date as it has surged 243 per cent, while rising 489 per cent in the last one year. In comparison BSE Sensex has risen 5 per cent year to date and 13 per cent in a year. 

 

The company has a total market capitalization of Rs 8,920.83 crore. Its shares are trading at a price to earnings multiple of 103.55 times and at an earning per share of Rs 0.18. 

 

At 1:47 AM; the shares of the company were up 4.36 per cent at Rs 19.15 a piece. By comparison, the BSE Sensex was trading 1.18 per cent lower at 80,782.69 level.