Shares of Senco Gold and PC Jeweller rose up to 12% on October 8 after the companies announced their Q2 business updates.
Shares of PC Jeweller jumped 7.5% to Rs 14.13 apiece after the company in its business update reported a 28% on-year rise in its consolidated revenue for the September quarter.
The company had repaid all outstanding debt to banks, with payments completed ahead of the scheduled due dates and achieved a debt-free status during the September quarter. This will save the company interest costs going forward which would strengthen its balance sheet, the company said in its release. The company also received remittances of approximately Rs 142 crore from its export debtors against outstanding receivables.
Meanwhile, shares of Senco Gold rose 12% to an intraday high of Rs 358.80 apiece after the company in its September quarter update said its revenue rose 31% on year, driven by strong festival demand, higher gold prices, and healthy same-store sales growth. The company expects the momentum to continue in October-March as well, anticipating high demand during the wedding season and festivals. In the September quarter last year, the company's consolidated revenue rose 2.4% on year. In the June quarter, the company reported a 67% increase in its top line.
The stock continued to be in green for three-straight sessions. The stock has fallen over 5% in the last 30 days, but has risen over 8% so far this year.