Stocks

PC Jeweller shares rise on board approval to demerge exports unit

Reuters Mumbai | Updated on May 13, 2019 Published on May 13, 2019

Shares of jewellery maker PC Jeweller Limited rose as much as 4.2 per cent to Rs 132.8, their highest since April 26

The stocks rose after the New Delhi-based company said it had received the board’s approval for de-merger of its exports division.

The company, which competes with Titan Co for jewellery, said on Sunday it plans to de-merge since commercial activities of its two units were distinct and diverse from each other.

“The de-merged company will be able to revise business plans and priorities from time to time, ensuring speedy and profitable growth,” PC Jewellers said.

The revenue from company's export division stood at Rs 3094 crore, as on March 31, 2018. This accounts for 32 per cent of its revenue.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on May 13, 2019
This article is closed for comments.
Please Email the Editor