Stock Split: Shares of PC Jeweller hit upper circuit - Check Details

Shares of PC Jeweller hit a 5 per cent upper circuit on Monday even as the benchmark indices Sensex and Nifty declined in early trade on Monday amid disappointing macroeconomic data and weak trends in frontline stocks. The counter opened at Rs 167.10 against the previous close of Rs 163.35 on the BSE. It later gained to touch the level of Rs 171.50 - a gain of 5 per cent from the previous close. 

The 52-week high of the counter is Rs 186.80 and the 52-week low is Rs 27.66. The market cap of the stock is Rs 7,981 crore.

The stock gained after the company announced the record date for its stock sub-division. The counter has of 491 per cent in one year and 101 per cent in two years. According to BSE Analytics, the scrip has surged around 630 per cent. 

Stock Split

The company has fixed December 16, 2024, as the record date for a 1:10 stock split. The move aims to make the shares of the company more accessible to retail investors. A record date is important as it helps the company to identify the eligibility of shareholders for a corporate action.

Meanwhile, the company has informed exchanges that it allotted 39,87,900 shares of the face value of Rs 10 each on the conversion of 39,87,900 warrants to five allottees belonging to non-promoters.

On September 30, 2024, and October 11, 2024, the company intimated about the allotment of a total of 48,08,02,500 fully convertible warrants through preferential allotment on a private placement basis to its promoter group and non-promoter, public category.

Earlier, US markets ended in the positive territory on Friday. The BSE benchmark jumped 759.05 points or 0.96 per cent to settle at 79,802.79 on Friday. The Nifty climbed 216.95 points or 0.91 per cent to 24,131.10.