Know all about –

“What is right or wrong with PC Jeweller Shares?”

The entire last week  there was one share which was in talk in bourses all the time. What was that? Yes, it was PC Jeweller, one of the active midcap shares- a fancy share of the Investors touched a low of Rs. 95.05 – 52 week low- and touched Rs. 174.55 in BSE- 44 %  in a week.!  175.23 L in BSE and 18 cr shares in NSE changed hands on trading! The share picked up 84 % from 52 week low of  Rs. 95.05. In the last eight trading sessions, the stock plunged  nearly 63 % wiping out Rs 7364.46 cr from its market valuation. The share is restricted under ban period.

Like Jewels the shares of the Jewellery shares also started glittering after a dull movement for a week or so. With  Gitanjali Gems and Jewellery, Nirav Modi and so on, even PC Jewellery shares also took a beating!   Rumours were afloat   that 1. CBI has arrested one of  the owners of P C Jeweller and BSE sought  clarification from the company and the Company has stated that ‘it is factually incorrect.’.  2. Another reason attributed  to the fall relates to gifting of some shares by one of its founders by open market sale. But Company has denied these rumours.

PC’s traded volume  on a single day  almost equals its free float market capitalization. Traded value of the share on  Friday was higher than that of stocks  like HDFC Bank, TCS, SBI put together. A lot of speculative activity is seen in PC trading. Against the volume of 18.15 cr shares, delivery was a meagre 1.8 Cr. Fidelity  Intl. managed Funds offloaded  tow thirds of their stakes in the company.

The  inference is that  the investors  are concerned about the quality and timeliness  of the company’s disclosures . It is better to keep away from this share for quite some time till it stabilizes.

For all your queries, please feel  free  to reach Goodwill  any time and seek guidance on any such case.

Wish you good luck  and recommend value-investing!