PC Jeweller shining bright

PC Jeweller is shining bright today, with the stock opening higher at Rs.236.50, going up to an intra day high at Rs.246.05 and is currently up 7% at Rs.238.

The company announced yesterday after market hours that the Govt has designated the company as a “nominated agency under Paragraph 4A.4 of Foreign Trade Policy 2009-14 (RE-2012), by the Additional Director General of Foreign Trade (CLA), Ministry of Commerce & Industry, Department of Commerce, New Delhi, vide Certificate dated January 07, 2015”.

In simple parlance this means that the company can now directly import precious metals – gold, silver and platinum to be used for domestic business. This is a good move as it will help the company reduce its costs to buy precious metals.