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PC Jeweller Shares Hit 52-Week High, Board Meeting on Sept 30, What Major Changes Are Coming?

PC Jeweller Ltd's shares surged 5% to Rs 161.50, hitting a 52-week high. The board will discuss a stock split, after Q1FY25 sales rose to Rs 401 crore, with EBITDA at Rs 89 crore.

Shares of PC Jeweller Ltd surged by 5 per cent to Rs 161.50, hitting a new 52-week high, from its previous close of Rs 153.85. The stock’s 52-week low stands at Rs 25.45. The company has announced a board meeting on September 30, 2024, to discuss a potential stock split and the appointment of new directors.

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The company recently received a tax refund of Rs 67.54 crore, credited on September 6, 2024, as a result of overpayment. This financial boost adds to the company’s already improving performance.

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PC Jeweller, a leading jewellery brand in India, saw a remarkable turnaround in Q1FY25, with domestic sales rising from Rs 67 crore in Q1FY24 to Rs 401 crore. EBITDA also showed a dramatic improvement, increasing to Rs 89 crore from a loss of Rs 42 crore the previous year.

In addition, the company settled its tax liabilities and secured an interest income of Rs 34.53 crore. It also achieved a significant victory with the withdrawal of the insolvency petition filed by SBI, while obtaining shareholder approval to raise Rs 2,705.14 crore through warrants.

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With a market cap exceeding Rs 7,500 crore, the stock has delivered over 530 per cent returns from its 52-week low. LIC and FIIs have increased their stakes, signaling strong investor confidence in the company.

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