PC Jeweller hits 52-wk high as board to consider stock split on Sept 30

PC Jeweller shares in focus: Jewellery maker PC Jeweller shares rose as much as 4.17 per cent to hit a fresh 52-week high of Rs 157.30 per share on Wednesday, September 25, 2024. 

The uptick in PC Jeweller stock came after the company announced that the board will meet on September 30 to consider a stock-split.

A stock split occurs when a company divides its current shares into a larger number of shares, effectively lowering the price of each individual share. However, the overall value of all shares combined, known as the company's market capitalisation, remains unchanged.

In an exchange filing, PC Jeweller said, “Notice is hereby given pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that a meeting of the Board of Directors of the Company will be held on Monday, September 30, 2024, inter-alia, to consider and approve the alteration in the share capital of the Company by sub-division / split of existing equity shares having face value of Rs 10 each, fully paid-up, as may be determined by the Board of Directors and consequent alteration of Memorandum of Association of the Company.”

 

Additionally, during the same meeting, the Board will also consider the appointment of new Directors of the Company, if any.

PC Jeweller engages in the manufacturing, trading, and sale of gold, diamond, and silver jewellery, catering to various markets. The company has developed several jewellery collections, such as Anant, Dashavatar, Bandhan, Amour, and the Wedding Collection, showcasing a diverse range of offerings.

PC Jeweller's product lineup includes an extensive selection of physical jewellery, featuring items like rings, earrings, mangal sutras, coins, chains, pendants, and bracelets. 

Additionally, the company has introduced a digital gold investment platform, allowing customers to invest in 24K gold with a minimum amount of Rs 100. 

This digital gold can be redeemed for physical jewellery or gold coins, enhancing accessibility for investors.

The market capitalisation of the company is Rs 7,253.32 crore, according to BSE. The company falls under the BSE SmallCap category. 

At 9:24 AM, shares of PC Jeweller were trading 3.21 percent higher at 155.85 per share. In comparison, BSE Sensex was trading 0.04 per cent lower at 84,877.71 levels.