Jewellery stock gains 5% after co fixes record date for 1:10 stock split

PC Jeweller share price gained up to 4.97 per cent at Rs 163.45 a piece on the BSE in Friday’s intraday trade. This came after PC Jeweller on Thursday announced the record date for sub-division or split of equity shares. 

 

The company has set December 16, 2024 as the record date for the split of equity shares of the company, in which one equity share having face value of Rs 10 each, fully paid-up, will be split into 10 equity shares having face value of Rs 1 each.

 

PC Jeweller is a leading jewellery brand in India, offering a diverse range of products, including gold, diamond, and other types of jewellery, with a special focus on diamond jewellery and wedding collections.

 

 

On the financial side, the company reported a major reversal in its performance for the second quarter of financial year 2024-25 (Q2FY25). The company's sales rose to Rs 505 crore, as against Rs 33 crore in the same period of FY24. 

 

Net profit also saw a robust improvement, reaching Rs 179 crore in Q2FY25, up from a loss of Rs 152 crore in the corresponding quarter of the previous fiscal year. 

 

On the equities side, PC Jeweller’s stock has outperformed the market year to date as it has risen 217 per cent, while gaining 456 per cent in the last one year. In comparison BSE Sensex has risen 9 per cent year to date and 18 per cent in a year. 

 

The company has a total market capitalisation of Rs 7,516.27 crore.  Its shares are trading at a price to earnings multiple of 878.64 times and at an earning per share of Rs 0.18. 

 

At 9:48 AM; the shares of the company were trading 2.76 per cent higher at Rs 160 a piece. By comparison, the BSE Sensex was up 0.42 per cent at 79,376.39 level.