PC Jeweller Stock Soars on Debt Resolution News

PC Jeweller's stock experienced a 4% rise following the announcement of debt repayment to another consortium bank. This marks a significant step towards the company's aim of achieving a debt-free status by the end of September 2026. The company has successfully settled outstanding dues with 10 out of its 14 consortium banks. This progress has attracted considerable investor attention, contributing to a notable 36% increase in the stock's value over the preceding week. PC Jeweller reported that all repayments have been completed ahead of their scheduled due dates, as per a settlement agreement from September 2024. The company has also discharged over 96% of the outstanding debt for the remaining four banks. This debt resolution initiative, led by State Bank of India (SBI), targets a stressed loan book of approximately ₹4,100 crore as of March 2024. Concurrently, PC Jeweller saw a 21% year-over-year increase in its revenue from operations for the April-June quarter, reaching ₹877 crore.