PC Jeweller Ltd. Board Meeting to Discuss Share Split and Market Dynamics

PC Jeweller Ltd. Stock Split Announcement

Shares of PC Jeweller Ltd. climbed to a multi-year high after the company announced that its board will consider a share split on Sept 30 in a ratio to be determined on the same date. An exchange filing revealed that a meeting of the Board of Directors will be held on Monday, Sept. 30, 2024, to discuss the alteration in the share capital by sub-division of existing equity shares valued at Rs.10/- each, fully paid-up.

Recent Stock Performance

PC Jeweller's stock gained for the fourth consecutive session today, reaching Rs 157.39 per share, marking its highest level since April 18, 2019. It has seen a significant gain of nearly 10% over this period. On Wednesday, the scrip rose by 4.20% to touch Rs 157.39 but later traded at Rs 152.90, a modest increase of 1.23% by 10:18 a.m., compared to a slight decrease in the NSE Nifty 50 index.

Year-to-Date Rise

• PC Jeweller has risen 227.02% on a year-to-date basis.
• In the last 12 months, the stock skyrocketed by 483.89%.
• The relative strength index stood at 74.38, indicating potential overbought conditions.

Anticipated Market Moves

As buy calls fade amidst India's booming stock market, all eyes are on PC Jeweller's board meeting. The market remains keenly aware of how this share split could impact stock dynamics moving forward.