Gold stock engaged in the business of manufacturing, sale and trading of gold, silver, diamond and other precious metal ornaments hit a 5 percent upper circuit in the day’s trade upon announcing the split of equity shares of the company in the ratio of 1:10.
Price Action
With a market capitalization of Rs. 8,693.74 Crores, the shares of PC Jewellers Limited hit a 5 percent upper circuit at Rs. 186.80 per equity share, from its previous day’s close price of Rs. 177.95.
What Happened
The board of directors of PC Jewellers Limited has considered and approved the sub-division/split of equity shares of the company in the ratio of 1:10 where one equity share with a face value of Rs. 10 will be divided into 10 equity shares with a a face value of Rs. 1.
About the Company
PC Jewellers Limited is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond-studded jewellery and silver items and operates in different geographical areas. It has offered a range of jewellery including rings, earrings, mangal sutra, coins, chains, pendants, and bracelets.
In addition to their retail operations, they also sell gold and diamond jewellery wholesale to other jewellery retailers in India. They also export gold and diamond jewellery on a wholesale basis to international distributors in Dubai, Hong Kong, Singapore and other countries.
Coming to the business network As of Q1 FY25, the company has 57 showrooms including 4 franchisee showrooms in 42 cities spread across 15 states.
Its Revenue from operations grew by 493 percent from Rs. 68 Crores in Q1FY24 to Rs. 401 Crores in Q1FY25, accompanied by a loss of Rs. 172 Crores to a profit of Rs. 156 Crores.
Written by: Bharath K.S
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