PC Jeweller share price climbs over 3%, inches closer to record high; here’s why | Stock Market News

PC Jeweller share price: Rising for the second consecutive session, mid-cap stock PC Jeweller climbed over 3 per cent in morning trade on the BSE on Thursday, December 12. PC Jeweller share price opened at ₹183 against its previous close of ₹178.35 and rose as much as 3.2 per cent to hit the intraday high of ₹184, inching closer to its all-time high of ₹186.80 hit on October 1 this year. The stock, however, pared some gains and traded 1.8 per cent higher at ₹181.50 apiece on the BSE around 9:40 am. In the previous session, the stock gained over a per cent in a lacklustre market.

Why is PC Jeweller share price rising today?

PC Jeweller stock witnessed healthy buying interest on Thursday, a day after it announced it issued shares on a private placement basis to a consortium of lenders to settle part of its outstanding debts.

“The board of directors on December 11 considered and approved the issuance of 5,17,11,462 shares of face value of ₹10 each, by way of preferential allotment on private placement basis to the consortium lenders classified under non‐promoter, public category, for settling part of their outstanding debts,” the company said in an exchange filing after market hours on December 11.

After the allotment of shares, the promoters and promoter group of the company will hold 25,40,62,568 shares of the company, equivalent to 42.93 per cent while non-prompters will hold 33,77,36,662 shares, equivalent to 57.07 per cent.

“The issue price and quantity of aforesaid issuance of equity shares shall be adjusted post the record date for the sub-division or stock-split of the face value of ₹10 each share to ₹1 each, i.e. December 16, 2024,” the company further said.

The company also announced the reappointment of Ramesh Kumar Sharma as a full-time director, effective 7 February 2025, for a period of three years.

PC Jeweller share price trend

PC Jeweller shares hit a record high of ₹186.80 on October 1. It hit a 52-week low of ₹31.61 on December 13 last year.

Till December 11, the stock has soared 479 per cent over the last year. On a monthly scale, the stock is up about 10 per cent this month so far.

The stock will turn ex-split on Monday, December 16.

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