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PC Jeweller surges on getting nod to demerge export division

PC Jeweller is currently trading at Rs. 130.85, up by 3.75 points or 2.95% from its previous closing of Rs. 127.10 on the BSE.

The scrip opened at Rs. 132.20 and has touched a high and low of Rs. 133.00 and Rs. 128.50 respectively. So far 184893 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 247.00 on 11-May-2018 and a 52 week low of Rs. 46.90 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 133.00 and Rs. 105.60 respectively. The current market cap of the company is Rs. 5015.98 crore.

The promoters holding in the company stood at 57.59%, while Institutions and Non-Institutions held 17.42% and 24.99% respectively.

PC Jeweller has received approval for scheme of arrangement for demerger ‘Export Division’ of PC Jeweller and subsequent amalgamation of the same with its Wholly Owned Subsidiary Company i.e. PCJ Gems & Jewellery. The Board of Directors of the Company at its meeting held on May 11, 2019 has approved the same.

The Demerged Company is having two core business verticals viz. Domestic Division and Export Division. The Board has decided to demerge the Export Division.

PC Jeweller is engaged in manufacturing jewelry products. It offers gold and diamond jewelry and silver articles. Its products include bangles, bracelets, earrings, pendant set, necklaces, pendant, nose rings and rings.

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