Stock market today: PN Gadgil share price opened at a bumper premium of 73 per cent on the Indian stock market exchanges during Tuesday dealings. PN Gadgil Jewellers’ share price opened on the NSE at ₹830 apiece and touched an intraday high of ₹848 per share mark within a few minutes of the share listing. Likewise, on the BSE, PN Gadgil Jewellers’ share price opened at ₹834 per share mark and touched an intraday high of ₹843.80 apiece. So, the jewellery stock delivered around 73 per cent listing premium to its lucky allottees against the upper price band of ₹480 per equity share. However, the newly listed stock witnessed a profit booking trigger immediately after the dream debut on Dalal Street.
According to stock market experts, those who applied for the listing gain are advised to book profit and exit as gold prices are at record highs, and it is expected to work as a taper for the stock rally in the near term. However, they advised long-term investors to hold the scrip as the company has strong financials.
PN Gadgil Jewellers share price outlook
Expecting limited upside in PN Gadgil Jewellers’ share price in the near term, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, “Those who have applied for listing gains are advised to book profit and exit as the small-sized initial offer is already listing at a strong premium, and the probability of further rally in the commodity stock in current skyrocketing gold prices is limited.”
On the suggestion to the long-term investors, Akriti Mehrotra, Research Analyst at StoxBox, said, “India’s jewellery market benefits from a profound cultural affinity for gold, valued as a store of wealth, a hedge against inflation, and collateral for loans. PNG has leveraged this cultural affinity effectively, boasting a diverse product range with over 10,000 SKUs in gold, 1,200 in silver, 2,700 in platinum, and 24,000 in diamond jewellery, catering to a broad spectrum of customer needs. Operating 39 stores—38 in Maharashtra and Goa and one in the US—PNG has established a strong brand presence and is strategically expanding into underserved Tier I and Tier II cities, with plans to add 12 new stores in Maharashtra by FY26.”
“Financially, PNG has demonstrated robust growth, with significant increases in revenue and EBITDA during FY2022-24. Considering PNG’s strategic market expansion, strong digital presence, and innovative marketing, we recommend that investors who have been allotted shares consider holding their positions from a medium to long-term perspective,” the StoxBox expert said.
“Due to its rich heritage of PNG brand equity and legacy of over 150 years old, the market may give a higher valuation multiple than its listed peers. We believe PNG is well-positioned in India’s growing organized jewellery sector. Hence, we recommend long-term investors to “HOLD” in P N Gadgil Jewellers Ltd for long-term perspective only,” said Prashanth Tapse, Senior Vice President — Research at Mehta Equities.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
