PC Jeweller rallies as board to mull preferential allotment on Dec 11

PC Jeweller gained 3.06% to Rs 177 after the firm said that its board will meet on Wednesday, 11 December 2024, to approve the issuance of 5,17,11,462 equity shares by way of preferential allotment on private placement basis.

The company stated that it will allot shares to consortium lenders for settling part of their outstanding debts in terms of the joint settlement agreement dated 30 September 2024, subject to necessary regulatory, statutory, and other approval(s), if any.

PC Jeweller is one of the leading players in the gems and jewellery segment in India. It is engaged in the manufacture, retail, and export of gold, diamonds and studded jewellery.

 

The company reported consolidated net profit of Rs 178.88 crore in Q2 FY25 as compared with net loss of Rs 138.13 crore in Q2 FY24. Revenue from operations jumped 12.42% YoY to Rs 504.97 crore during the quarter.

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