Jewellery stocks shine: PC Jeweller, Gitanjali Gems, TBZ & Titan Company marches ahead

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Jewellery stocks witnessed a bullish undertone on today’s intraday trade as PC Jeweller, Gitanjali Gems, Tribhovandas Bhimji Zaveri Ltd and Titan Company is trading bullish on BSE in the first half of trade on BSE.

PC Jeweller traded over 17% at Rs 527.70, Gitanjali Gems traded over 8% at Rs 69.50 per share, Tribhovandas Bhimji Zaveri Ltd traded at 8% at Rs 97.90 per share & Titan Company traded over 3% at Rs 488.80 per share on BSE on the first half of Monday’s trade.

At present, jewellery items are taxed between 2.5-3% and the coming GST taxation system may impose higher tax rate on it, believe experts. 

Stock view :-

PC Jeweller Ltd is currently trading at Rs 530.15, up by Rs 79.95 or 17.76% from its previous closing of Rs 450.2 on the BSE.

The scrip opened at Rs 450.05 and has touched a high and low of Rs 585 and Rs 450.05 respectively. So far 6279139(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 8064.77 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 531 on 15-Sep-2016 and a 52 week low of Rs 288.75 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 459.95 and Rs 417 respectively.

The promoters holding in the company stood at 68.48 % while Institutions and Non-Institutions held 25.04 % and 6.47 % respectively.
The stock is currently trading above its 50 DMA.

PC Jeweller Ltd :-
BSE 521.55 71.35 (15.85%)
NSE 521.60 70.75 (15.69%)


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