PC Jeweller Shares Extended Gains For 2nd Straight Day

On December 03, 2024, PC Jeweller shares extended the gains for the 2nd consecutive trading session by gaining over 3% in morning trade on Monday, December 3. PC Jeweller shares opened at ₹175.00 and touched the day high of ₹178.90 at 11:05 AM. The gain in shares of PC Jeweller was followed by an upper circuit of 5% to ₹171.50 on Monday, December 2. The stock came closer to its record high of ₹186.80, achieved on October 1 this year. The sharp increase in PC Jeweller’s stock price comes in the wake of the company’s announcement regarding the record date for its stock split. The company’s recent decisions have generated significant market interest and investor traction.

PC Jeweller Stock Split Record Date

On November 28, 2024, PC Jeweller’s board of directors set December 16, 2024, as the record date for a stock split. Under the planned split, each equity share with a face value of ₹10 will be divided into 10 equity shares, each with a face value of ₹1. This stock subdivision allows shareholders to receive additional shares while keeping the overall investment value unchanged. The record date will determine which shareholders are eligible for the stock split.

Impact of 1:10 Stock Split

For shareholders, this means that for every single share they hold, they will receive 10 shares post-split. However, the total investment value remains unaffected by the split, as it only results in a larger number of lower-priced shares. In addition to the stock split announcement, PC Jeweller also disclosed a share allotment on November 29, 2024. The company allotted 39,87,900 shares, with a face value of ₹10 each, through the conversion of warrants to five allottees from the non-promoter group.

Preferential Allotment Details

Earlier, on September 30 and October 11, 2024, PC Jeweller had notified the market about the allotment of 48,08,02,500 fully convertible warrants via a preferential allotment to both the promoter group and non-promoter shareholders. As a result, the promoter group’s stake in the company decreased from 47.39% to 47.04%, while public shareholding increased to 52.96% from 52.61%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.