PC Jeweller To Raise Funds Via Preferential Allotment
PC Jeweller's share price has risen 262.12% in the last 12 months and 16.51% on a year-to-date basis.
The board of PC Jeweller Ltd. is set to consider a fundraising via preferential allotment in their board meeting on July 10, as per a disclosure to the stock exchanges on Monday.
The jeweller had recorded an 80% year-on-year growth in its standalone revenue despite fluctuations in gold prices. This rise was fuelled by robust wedding and seasonal purchases, according to a previous exchange filing.
The company reduced its outstanding debt to bankers by over 50% in fiscal 2024–25 and reduced further by around 7.5% during the current quarter. It remains committed to become debt-free by the end of fiscal 2026, the filing said.
Operational improvements continue to remain across the board, with tangible improvements seen in the financial results. The jeweller stays positive about maintaining its growth momentum and delivering strong results in the upcoming quarters.
Shares of PC Jeweller closed 10.78% higher at Rs 18.49 apiece on the National Stock Exchange, compared to nil movement in the benchmark Nifty. The stock has risen 262.12% in the last 12 months and 16.51% on a year-to-date basis.
