Jewellery manufacturer PC Jeweller has recorded a surge upto 19 per cent during intra day trading on July 4. The rally in stock prices came after the company reported around 80 per cent revenue growth in the recently ended June quarter of current fiscal year. On Friday, the share price peaked to Rs. 16.82 and sailed over Rs. 15 much of the trading hours.
The company delivered a strong performance despite economic turmoil caused by global factors such as Trump’s tariffs and the war in the Middle East, which led to fluctuating gold prices.
“Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80 per cent as compared to the corresponding quarter of the previous financial year,” company stated in an exchange filing.
In the last four days, its shares witnessed a continuous growth, with nearly 30 percent surge in the price.
The jewellery firm also mentioned that in the previous quarter they registered a massive rise in orders which pushed it to gain massive revenue growth.
“company witnessed high demand of its products on account of wedding/festive purchases by its customers during Q1” company added.
The company is aiming to become debt free this financial year and already repaid half of its debt in previous fiscal year 25.
“For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7.50 per cent during the June quarter,” company said.
The jewellery firm is aiming to continue this momentum and is optimistic to deliver strong performance in forthcoming quarters.
On Friday, the share prices closed at 16.82, a nearly 20 percent rise from previous closing of 14.02. It opened at 14.35 in the morning and also touched a low of 14.31. Now, the company has a total market cap of Rs. 11059 Crore.
PC Jeweller has 52 showrooms in the country, of which 49 are owned by the company.
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