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PC Jeweller gains after opening new showroom

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PC Jeweller gained 1.79% to Rs 508.35 at 11:10 on after the company announced that it opened a new showroom in NCR.

The announcement was made after market hours yesterday, 18 October 2016.

Meanwhile, the S&P Sensex was down 50.30 points or 0.18% at 28,000.58.

On BSE, so far 13,383 shares were traded in the counter as against average daily volume of 33,672 shares in the past one quarter. The stock hit high of Rs 510.80 and low of Rs 500.95 so far during the day. The stock had hit a record high of Rs 531 on 15 September 2016. The stock had hit a 52-week low of Rs 296.10 on 29 February 2016. The stock had outperformed the market over the past one month till 18 October 2016, gaining 1.65% compared with 1.92% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 30.14% as against Sensex's 1.1% rise.

The large-cap company has equity capital of Rs 179.10 crore. Face value per share is Rs 10.

PC Jeweller said that the new showroom is located at B-21-22, KPG Tower, R. D. C, Raj Nagar, Ghaziabad (UP). This is company's 67th showroom in India and 18th showroom in NCR. The showroom exhibits large collection varieties of gold, diamond & silver jewellery.

To make this launch even more special for jewellery enthusiasts, PC Jeweller has announced special discounts and schemes on both diamond and gold jewellery, where any customer who buys diamond jewellery will get up to 20% discount, Customers who prefer to buy gold jewellery will get a discount up to 20% on the making charges. The scheme is available exclusively at the Raj Nagar, Ghaziabad showroom from 16 October to 6 November 2016. On the occasion, the company announced a chance to win a bumper gift of Nissan Redi-Go Car on some purchases.

Net profit of PC Jeweller rose 31.2% to Rs 106.59 crore on 10.2% rise in net sales to Rs 1664.45 crore in Q1 June 2016 over Q1 June 2015.

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: Wed, October 19 2016. 11:08 IST