First-Ever Stock Split In 1:10 Ratio: Record Date Will Be Intimated In Due Course; Buy For A Target of Rs 136

An Indian business called PC Jeweller makes trades and sells jewellery. PC Jeweller offers a wide range of jewellery, incorporating precious stones, diamonds, silver, and gold. The company sell necklaces, bracelets, pendants, earrings, rings, and more. With stores in 67 cities and 17 states, it is one of the leading jewellery retail chains. PC Jeweller Global DMCC, PC Jeweller Global Private Limited, PC Universal Private Limited, and PCJ Gems & Jewellery Limited are some of the company's subsidiaries.

PC Jeweller Stock Split

The Board of Directors of the company considered and approved, "Sub-division / split of each equity share of face value of Rs 10/- (Rupees Ten Only) each, fully paid-up, into 10 (Ten) equity shares of face value of Rs 1 (Rupee One Only) each, fully paid-up, by alteration of Capital Clause of Memorandum of Association of the Company, subject to the approval of Members of the Company. The Record Date for sub-division / split of existing equity shares will be intimated in due course."
The above stock split has been announced with a view to enhancing the liquidity of the company's equity shares and encouraging the participation of retail investors by making equity shares of the company more affordable.

PC Jeweller Financials

From Rs 67 crore in Q1 FY24 to an astounding Rs 401 crore in Q1 FY25, the company's domestic sales increased dramatically. This led to a noteworthy YoY rise of 492.72%. In Q1FY25, the company's net profit of Rs. 156.06 crore was recorded, a 190.93% increase over Q1FY24's Rs. 171.62 crore. EBITDA increased 336.87% from Rs. 38.08 crore in June 2023 to Rs. 90.20 crore in June 2024.

PC Jeweller Share Price Target

"PC Jeweller stock price is overbought yet bullish on the Daily charts with next resistance at 197. Investors should be booking profits at current levels as a Daily close below support of 170 could lead to a target of 136 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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