Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Kolkata: PC Jewellers is engaged in the business of making and selling gold, diamond and silver jewelry. It has a string of showrooms in the country. It has got an export markets, especially in the Gulf region through dealers who are based in Dubai. It is a penny stock that has generated remarkable 800% returns.
Experts point out that the stock is trading near its 52-week low. It was quoting at Rs 12.14, up Re 0.070 (or 0.58%) at the close of session on October 20. And most important, it could be witnessing a bounce back in the near future. The stock has returned in the limelight due to the financial performance in Q2 period of FY26. Let's have a look at the details.
PC Jewellers came up with a sterling performance in the second quarter of the current financial year. Compared to the similar quarter a year ago, the figure was a jump of 63% -- the robust festive season demand was a key reason for this surge. The company launched a franchise-owned showroom in Pitampura in the country's capital.
PC Jewellers managed to raise Rs 32.92 crore at a price of Rs 42.15 per share, which offers a testimony to the confidence of investors in the company and its future. It issued 7.81 crore equity shares through the conversion of 78 lakh warrants. These were allotted to eight non-promoter investors. One of the significant steps pf the management has been the part payment of its debt -- in September its outstanding debt with banks went down by 23%. By the end of the current financial year, the company is expected to be debt free.
The head of research of Laxmishree Brokerage, Anshul Jain, has told the media that the shares are trading in a range of Rs 10.5 to Rs 19.5 and right now is close to its 52-week low. The Level of Rs 10.5 has repeatedly offered support. If this level is tested it could serve as a strong long entry point. He also said that the volume pattern also supports this opinion. The stock is gradually accumulating at lower levels. He said that if the base holds and accumulation goes on, the stock could reach the Rs 19.5 level in the next few weeks.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
