Mon Dec 16 08:50:06 UTC 2024: ## PC Jeweller Shares Surge 5% After Stock Split

**Mumbai, December 16, 2024** – PC Jeweller shares jumped 5% to hit their upper circuit limit of ₹18.29 on the NSE today, the day the stock went ex-split. The company’s stock split, approved in October, saw one ₹10 face value share divided into ten ₹1 shares. Over 76 lakh shares changed hands, with a total trading value of ₹13.72 crore.

The surge follows a remarkable year for PC Jeweller, with share prices increasing over 245% in 2024, climbing from approximately ₹50 in January to ₹174.17 before the split. This strong performance is attributed to the company’s return to profitability in the July-September quarter after nine consecutive quarters of losses, coupled with a significant increase in domestic sales. In Q2FY25, domestic sales soared to ₹505 crore compared to ₹33 crore in the same period last year, with a net profit of ₹179 crore against a loss of ₹152 crore in the previous year’s corresponding quarter. This turnaround was partly driven by the reduction in gold import duty.

Furthermore, PC Jeweller reached a significant milestone by securing approval from all 14 consortium banks for its Offer for Settlement (OTS), resolving outstanding issues with lenders. A substantial portion of the settlement was funded through a ₹646 crore private placement of warrants to the promoter group. The stock split is expected to enhance liquidity and make the shares more accessible to investors.

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