PC Jeweller’s shares jumped to their maximum allowed increase of 5%, reaching Rs 19.25 in early trading. This rise is due to a recent stock split, where each existing share worth Rs 10 is being split into ten shares, with each now valued at just Re 1. This change is set to take effect on December 16, 2024.
The company made this announcement after their Board of Directors held a vote on November 28, 2024. This is the first time PC Jeweller is doing a stock split, which is a way to make the stock cheaper and more available for everyday investors. In simpler terms, splitting shares helps more people buy them and can lead to more trading activity.
In the last year, shares of PC Jeweller have skyrocketed, offering amazing returns of 477% and 272% over various periods. In just six months, they have increased by 236.6%, showcasing the company’s strong performance.
Why Do Companies Split Their Shares?
When a company splits its shares, it usually wants to attract more investors by making its stock more affordable. This can help improve market trading and is often viewed as a sign of a company’s future growth. Overall, it’s a positive signal for investors and can increase excitement around the stock.
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