Editor’s Note
This article discusses recent volatility in PC Jeweller Ltd’s stock, noting a significant weekly gain attributed to technical factors rather than fundamental changes. Investors should exercise caution and conduct their own research, as such price movements can be speculative.
New Delhi: PC Jeweller Ltd, a stock in the jewellery sector, has been in the limelight recently due to its decline. The PC Jeweller share, priced around ₹20, is currently seen trading at a low. It is noteworthy that in the current trading week, this share has already jumped more than 12%. No fundamental reason is apparent behind the recent surge, but analysts say that only technical aspects have contributed significantly to the rise.
On Friday, December 5, the share of PC Jeweller Ltd closed flat at ₹11. As we have already informed you, in the past one week, this share has given a return of more than 11%. The share price has fallen more than 8% in the past 1 month, more than 16% in the past 3 months, and more than 6% in the past 6 months. Due to this decline, the market cap of this jewellery company has slipped to the level of ₹8009 crore. With this market cap, PC Jeweller is the sixth largest company in its sector.
In the past July, PC Jeweller stock fell up to 44% from its 52-week high level of ₹19 due to selling pressure. Currently, the share is still showing a trend of weakness. However, looking at the long-term performance, it has given a strong return of 287% in the past two years. Meanwhile, in the past 5 years, the share price has seen a return of 550%. For retail investors, this share has appeared as a wealth creator. Retail investors hold a 44.7 percent stake in this company.
PC Jeweller company informed the exchange on Friday that they had applied to join the CM Youth Portal of the Uttar Pradesh government, which has now been approved. Additionally, PC Jeweller company has stated that it is preparing to open 1000 jewellery retail franchise outlets. The company also said that it will create opportunities for local employment.