Shares of PC Jeweller Ltd. fell as a lot as 8.66% to Rs 17.08 on the Nationwide Inventory Trade. This decline got here after each the BSE and NSE positioned the inventory underneath the short-term Extra Surveillance Measure framework.
The ASM framework is designed to boost market integrity and safeguard investor pursuits by monitoring and curbing extreme volatility in inventory costs.
Previous to this decline, PC Jeweller’s inventory had been on an upward trajectory, buoyed by a constructive enterprise replace. The corporate reported a sturdy efficiency for the lately concluded quarter, attributing its success to robust buyer belief and goodwill.
Regardless of fluctuations in gold costs, PC Jeweller achieved a standalone income development of roughly 80% in comparison with the identical quarter within the earlier monetary 12 months, the corporate stated in an trade submitting.
The inventory rose practically 20% on July 4, a day after the corporate introduced its enterprise replace. It continued to rise over 12% on Monday bringing the cumulative rally of two days to over 33%.
The surge in demand for its merchandise was pushed by marriage ceremony and festive purchases, PC Jeweller had stated in its replace.
Moreover, the corporate stated that it made progress in lowering its excellent money owed, reducing them by greater than 50% throughout fiscal 2025. PC Jeweller goals to turn out to be debt-free by the tip of FY26 and has already decreased its money owed by one other 7.50% over the last quarter.
