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Everything wrong with PCJ which plunged 28% as on Apr 27 2018.

Official conversation between BSE and PC Jewellers:

BSE: The Exchange has sought clarification from PC Jeweller Ltd on April 27, 2018, with reference to Decrease in Price.

The reply is awaited.

PC Jewellers:

Some recent activities in PC Jewellers:

  • There are rumours in the market that promoter stake in the company might have fallen by 1-2 per cent. The company though has brushed aside such talk.

  • "The company would like to assure its investors, shareholders and other stakeholders that the fundamentals of the company remain strong and it continues to move ahead on the growth path," the company said on Wednesday.” : PCJ

  • "One of the promoters Padam Chand Gupta gifted some of his shares to his family member(s) through off-market transactions. The company is making requisite disclosures in this regard from time to time," : PCJ

  • FMR LLC, a non-promoter entity, bought 1,93,495 PCJ shares last week. The same entity bought 1,00,000 shares in March and 24,81,108 in February.

  • During the December quarter, DVI Fund (Mauritius), a non-promoter, was seen selling stake in the firm. Amar Chand Garg, Krishna Devi and Sachin Gupta were some of the promoters selling stake in PCJ in 2017.

  • FPIs held 31.22 per cent stake in the jewellery maker as of March 31, their highest ever in the firm, shareholding data suggest. The holdings were 30.44 per cent at December-end, and 25.04 per cent in the year-ago quarter.

  • The ongoing selloff is similar to the one seen earlier this year on speculation that its promoters may not have disclosed a business relationship with e-governance service provider Vakrangee, which was reportedly being probed by Sebi for possible stock manipulation.

PC Jeweller then had clarified that none of its promoters had diluted stake in the company and none of their shares are pledged as collateral with any institution.

They have already opened 7 new showrooms during March, 2018 and further opened 2 more showrooms during April, 2018.

Financial Health:

Profits:

Debt (Reduced Significantly):

Shareholding Pattern:

Major MF Holdings:

After my numerous efforts I didn’t find any unusual activities with PCJ. The company has clarified that it does not use the instruments of LUT/LOC etc in its business transactions. It does not have any international transactions in diamonds; it procures all its diamonds from local markets on cash basis only. We can expect a target of Rs 450 by FY19 end. The company is a strong play on India’s jewellery sector. Organized players have only ~30 percent share of the Rs 200000 crore jewellry market in India, with the national players having less than 10 percent share. The company is second largest organized player after Tanishq.

I personally invested and still in ‘Stay Invested’ Mode.

“Be Greedy when others are fearful, Be Fearful when others are Greedy”

Cheers!

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