PC Jeweller Shares Soar 11% After Debt Clearance, Eyes Debt‑Free Status
NEWZA Editorial Team••Source: MoneyControl
NEWZAFinancial Intelligence Feed
⚡ Key Financial Takeaways
PC Jeweller repaid debt to nine of 14 lenders, clearing 96% of its stressed loan book and leaving <4% outstanding.
Shares climbed 11.3% to Rs 11.71, taking market cap to ~Rs 11,250 crore – highest in ~9 months.
PC Jeweller’s YTD gain of ~25% outpaces Nifty 50’s 8.4% decline amid a modest market rally.
Debt Settlement Milestone PC Jeweller announced that it has repaid the outstanding debt to nine of the 14 banks in its September 2024 settlement agreement. The jewellery retailer has now cleared all debt to these lenders ahead of schedule, leaving less than 4% of the original stressed loan book to be settled. The total stressed loan book stood at nearly Rs 4,100 crore as of March 2024, and the company expects to become debt‑free by the end of September.
Market Impact & Outlook Following the announcement, PC Jeweller shares jumped 11.3% to Rs 11.71 in afternoon trade, the highest level in about nine months. The market capitalization rose to approximately Rs 11,250 crore. The rally outpaced the broader indices: at 2:08 pm the Sensex was up 533 points (0.70%) to 76,685.98, and the Nifty 50 gained 70 points (0.29%) to 23,943.35. Over the year‑to‑date, PC Jeweller has gained about 25%, while the Nifty 50 has declined 8.4%.
