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PC Jeweller Shares Rise as Debt Repayments Near Completion
PC Jeweller’s share price went up for the second day in a row.
The shares rose by more than 3% during Thursday’s trading.
The company said it had repaid all its dues to 10 of the 14 banks that had lent it money.
It said it had also repaid more than 96% of the money owed to the other four banks.
The company expects to finish the remaining repayments by the end of September.
This could allow PC Jeweller to become debt-free, according to the company.
Investors reacted positively to the debt-repayment update.
The stock has also risen strongly over the past week, month, year, and several years.
PC Jeweller shares rose for a second straight session on Thursday, 10 September, gaining more than 3% intraday.
The stock opened at ₹13.95 on the NSE, reached ₹14.35, and had a market capitalisation of ₹13,779.25 crore at 9:45 a.m.
PC Jeweller said it had fully repaid dues to 10 of 14 consortium banks ahead of schedule.
The company said more than 96% of its dues to the remaining four banks had been repaid, with the rest expected by September-end.
The stock gained over 34% in a week, 44% in a month, 52% year to date, and 410% over three years.
- Who
- PC Jeweller and a consortium of 14 banks led by State Bank of India (SBI).
- What
- PC Jeweller shares extended their gains after the company reported substantial repayment of its outstanding bank debt.
- Where
- The shares traded on the National Stock Exchange of India (NSE).
- When
- Thursday, 10 September; the company made the repayment disclosure in an exchange filing on Tuesday.
- Why
- The rally followed PC Jeweller’s announcement that it had repaid dues to 10 banks and more than 96% of dues to the remaining four.
Key facts
- Thursday opening price
- ₹13.95 per share
- Thursday intraday range
- ₹13.94 to ₹14.35 per share
- Market capitalisation
- ₹13,779.25 crore as of 9:45 a.m.
- Debt repayment status
- All dues to 10 of 14 consortium banks repaid; more than 96% repaid to the remaining four
- Expected debt-free date
- End of September, according to PC Jeweller
- Recent stock performance
- Up over 34% in a week, 44% in a month, and 52% year to date
- Earlier loan exposure
- Nearly ₹4,100 crore as of March 2024
Sources
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