Jewellery player PC Jeweller Ltd saw its stock crack over nine percent in trade on Tuesday, July 8 as exchanges NSE and BSE put the stock under the short-term additional surveillance measures (ASM) framework.
Over the past one month, shares have rallied nearly sixty percent following the strong business update for the June quarter. PC Jeweller shares have skyrocketed over 200 percent over the past year, more than tripling investors' wealth.
At 11.47 a.m., PC Jeweller shares were quoting Rs 16.99, down 9.1 percent on the NSE.
In a regulatory filing, PC Jeweller said, "Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80 percent, as compared to the corresponding quarter of the previous financial year."
The company saw high demand for its products, as consumers purchased jewellery for weddings and festivals. "Further, the company had already reduced its outstanding debts towards its bankers by more than 50 percent during 2024-25," PC Jeweller said.
The company expressed confidence of becoming debt free in the current fiscal. "For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7.5 percent during the June quarter."
Further, PC Jeweller has announced that a meeting of its board of directors will be held on Thursday, July 10, 2025, to consider and approve the raising of funds. The proposed fundraising will be through the issuance of securities by way of preferential allotment, subject to necessary approvals from shareholders, regulatory bodies, statutory authorities, and other applicable entities.
A successful fundraising initiative can be perceived positively by the market, indicating the company's ability to attract capital and its commitment to growth. Conversely, concerns about potential equity dilution might also influence investor sentiment.
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