Multibagger stock: PC Jeweller share price surged over 4% on Monday’s trading session ahead of preferential share allotment. In a filing with the exchange, PC Jeweller announced that its board is scheduled to convene on Wednesday, 11 December 2024, to authorize the issuance of 5,17,11,462 equity shares through a preferential allotment via private placement. PC Jeweller share price today opened at ₹175 apiece, the stock touched an intraday high of ₹179 per share and an intraday low of ₹168.50 apiece.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, PC Jeweller share prices have shown a significant recovery from their recent low of 140, with a flag pattern breakout visible on the daily chart. This suggests the potential for an upward move toward the previous high of 185, which serves as a crucial resistance. On the downside, immediate support is placed at 170.
PC Jeweller has announced that December 16, 2024, will be the record date for the split of its equity shares. In this move, each equity share with a face value of ₹10 will be divided into 10 equity shares with a face value of Re 1 each. This means that the stock split ratio is 1:10. Notably, this marks the first stock split in the company’s history.
PC Jeweller focuses on the thriving business of trading, manufacturing, and selling a diverse range of jewelry and articles. Their offerings include exquisite gold, diamond, silver, and precious stone pieces, showcasing a variety of designs and specifications.
The company recorded domestic sales of ₹505 crores in Q2 FY 2025, compared to ₹33 crores in Q2 FY 2024. For the first half of FY 2025, sales amounted to ₹906 crores, up from ₹101 crores in H1 FY 2024.
Additionally, the company’s EBITDA showed significant improvement, with a profit of ₹129 crores in Q2 FY 2025, versus a loss of ₹23 crores in Q2 FY 2024. In H1 FY 2025, the company achieved a profit of ₹218 crores, compared to a loss of ₹65 crores in H1 FY 2024.
“The reduction in custom duty on gold imports from 15% to 6% announced in the Union Budget, alsocontributed in the strong Q2 FY 2025 results,” the company said in an exchange.
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