Shares of Delhi-based PC Jeweller are in the spotlight as the company has alloted 97.84 lakh equity shares. This allotment, which came after the conversion of fully convertible equity warrants, saw 97,84,800 equity shares with a face value of Re 1 each being allotted to two non-promoter, public category allottees.
The allotment was made upon the receipt of the balance amount, totaling Rs 4.12 crore, at the rate of Rs 42.15 per warrant.
Post this allotment, the paid-up equity share capital of the company has increased to Rs 693,19,44,150 from Rs 692,21,59,350 before allotment.
PC Jeweller Share Price Today
Shares of PC Jeweller started the trading session in the green on Thursday amid a flat start in the benchmark indices Sensex and Nifty. The counter opened in the green at Rs 13.35 against the previous close of Rs 13.32 on the BSE. It gained further to touch the high of Rs 13.39 but later fell amid selling pressure. The stock dipped to Rs 13.03. This movement in the stock price has a direct impact on the company’s financial status.
Stock has been losing for the last two days and has fallen 2.31 per cent in the period. Technically, the stock trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
According to BSE Analytics, PC Jeweller has been a standout performer in the stock market, delivering a multibagger return of 383 per cent in the past two years.
Meanwhile, PC Jeweller has been making significant strides in reducing its net debt, which has decreased by 19 per cent in the last four months to Rs 1,445 crore. The company’s MD, Balram Garg, has expressed confidence that PC Jeweller will become debt-free by the end of this fiscal year. This positive outlook, coupled with the company’s 52 showrooms, of which 49 are company-owned, across major cities of the country, bodes well for its future.