10:1 Stock Split Today: LIC-Backed Multibagger Stock Under Rs 20 Hit Upper Circuit On December 16; Do You Own It?
The stock gave multibagger returns of 468 per cent from its 52-week low of Rs 3.23 per share.
Today, shares of PC Jeweller Ltd hit a 5 per cent upper circuit to Rs 18.35 per share from its previous closing of Rs 17.48 per share. The stock’s 52-week high is Rs 18.68 per share and its 52-week low is Rs 3.23 per share. The company's shares saw a spurt in volume by more than 5 times on BSE.
PC Jeweller Limited has announced plans to stock split each of its existing 1 equity shares, each with a face value of Rs 10, into 10 smaller shares, each with a face value of Re 1. The record date for the stock split is fixed as Today, i.e., Monday, December 16, 2024.
Additionally, the company issued 51,711,462 equity shares to its consortium lenders as a preferential allotment to settle a portion of their outstanding debt. These shares were issued on a private placement basis to non-promoter, public category investors. The issue price of Rs 292 per share exceeded the regulatory floor price, ensuring compliance with SEBI regulations.
About the Company
PC Jeweller Ltd is an Indian company that designs, manufactures, sells and trades gold, platinum, diamond and silver jewellery. They operate across India with multiple brands including Azva, Swarn Dharohar and LoveGold and even created commemorative medallions for the Cricket World Cup.
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Quarterly Results: The net sales increased by 12.4 per cent to Rs 504.97 crore in Q2FY25 compared to Q2FY24. The company reported a turnaround net profit of Rs 178.88 crore in Q2FY25 compared to a net loss of Rs 138.13 crore in Q2FY24: increasing 230 per cent.
Half-Yearly Results: The net sales increased by 75.3 per cent to Rs 906.12 crore in H1FY25 compared to H1FY24. The company reported a turnaround net profit of Rs 334.94 crore in H1FY25 compared to a net loss of Rs 309.75 crore in H1FY24: increasing 208 per cent.
The company has a market cap of Rs 8,548 crore. As of November 2024, Life Insurance Corporation of India (LIC) owns a 1.26 per cent stake in the company. The stock gave multibagger returns of 468 per cent from its 52-week low of Rs 3.23 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.