PC Jeweller, a leading gems and jewellery company, has fixed the record date of its first-ever stock split in the ratio of 1:10. The last date to be eligible for stock split or sub-division benefits is in December 2024. After announcing the record date, on Tuesday, shares of jewellery company PC Jeweller Ltd jumped around 4 per cent to an intraday high of Rs 178.38 per share from its previous closing of Rs 171.92 per share. The stock's 52-week high is Rs 187.07 and its 52-week low is Rs 28.05. The company has a market cap of over Rs 8,940 crore with multibagger returns of 581 per cent in 5 years.
PC Jeweller Share Price:
The smallcap jewellery stock froze at its 5% upper circuit to Rs 163.45 apiece. The upper circuit means that there were several buyers in PC Jeweller but no sellers on November 29. The market cap is around Rs 7,607.03 crore. The stock is nearing its 52-week high of Rs 186.80 apiece, while its 52-week low is at Rs 27.66 apiece.
YTD, PC Jewellers emerge as 2024 multibagger with gains of a whopping 225% so far. On BSE, the stock price was merely at Rs 50.35 apiece level in the start of 2024. The company's price-to-equity ratio is at 921.81x, while return on equity is at 0.28%.
PC Jeweller Stock Split:
PC Jeweller has fixed December 16, 2024, as the record date or the purpose of sub-division / split of equity shares of the Company, such that 1 (One) equity share having face value of ₹ 10 (Rupees Ten Only) each, fully paid-up, be sub-divided / split into 10 (Ten) equity shares having face value of ₹ 1 (Rupee One Only) each.
Hence, the stock split ratio is of 1:10 ratio. This is the first ever stock split by PC Jeweller.
Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.
Should You Buy PC Jeweller Stock?
"PC Jeweller stock price is bullish on the Daily charts with strong support at 156. A Daily close above resistance of 165 could lead to a target of 187 in the near term," said, A R Ramachandran, Independent Research Analyst.
About PC Jeweller:
It all started when PC Jeweller first opened its first showroom in 2005 in Karol Bagh, New Delhi with a vision to redefine elegance, allure and style in the form of stunning pieces of jewellery. Today one of the fastest growing jewellery retail chain having showrooms across 67 cities and 17 states.
Since its inception, the company has been a pioneer in designs as every product is crafted to a standard of perfection. Whether it is elaborate wedding jewellery or affordable wearables, PC Jeweller has fashioned exceptional designs with unmatched quality. Over time, timeless treasures from PC Jeweller have helped intimate moments become lifetime memories.
Company's business model consists of setting up large format, stand alone showrooms at high street locations. Its stores stock a wide range of jewellery across all price points, with an increasing focus on diamond jewellery. The company sells only hallmarked jewellery and certified diamond jewellery.
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