Trending stock below Rs 50: PC Jeweller soars 60 per cent in just 7 sessions; is it a multibagger in making? Know here!
What’s more striking is the fact that the stock, in the month of July, has never seen a red day as it manages to end in green in all the trading sessions!
In the final test match of the five-match-test series between India and England, something out of the ordinary happened in the first inning of India as the stand-in skipper Jasprit Bumrah scored 29 runs off the bat in an over from Stuart Broad that also contained five wides and a no-ball hammered for six. This resulted in a new world record as Broad conceded 35 runs in one over.
Something similar happened on D-Street as well! In just seven trading sessions, the stock of PC Jeweller surged like a mile a minute as it jumped 60 per cent on an MTD basis. With this, the stock touched a fresh 52-week high, and interestingly, during this upmove, it witnessed a sharp rise in the volumes as well, which indicates buying interest in the stock.
What’s more striking is the fact that the stock, in the month of July, has never seen a red day as it manages to end in green in all the trading sessions! Isn’t it like a dream come true, no negative day!
While on the financial front, the picture isn’t that rosy as the company has not conducted any fresh export business in FY22. The domestic business has also declined by nearly vis-à-vis FY21. Having said that, the silver lining is that the company, however, continues to enjoy customer loyalty and brand recall. It has also continued to launch new collections and designs.
The decline in turnover has been mainly on account of restrictions in operations and liquidity constraints after becoming NPA. However, the situation has now improved with a positive effect on the company’s operations. The company has submitted its resolution plan to its consortium lenders and they have agreed to move ahead with processing the same.
However, the bottom line is that whether the stock is enjoying a period of luck just like Bumrah or something is really turning around for the company, only time will tell! Till then, follow the trend and keep strict stop-loss!