6 hrs ago
PC Jeweller Shares Gain as Company Becomes Debt Free
PC Jeweller said it has finished paying all its bank debt.
The debt was owed to 14 banks working together.
The company completed the payments earlier than required.
It said this makes the business debt-free.
PC Jeweller believes this will improve its balance sheet.
Its shares are near their highest level in the past year.
The stock is above several short- and long-term moving averages.
Its RSI reading of 66.6 suggests it is neither overbought nor oversold.
PC Jeweller said it has discharged all outstanding debt owed to 14 consortium banks.
The final repayments were completed ahead of the scheduled due dates.
The company said its debt-free status will strengthen its balance sheet and financial position.
The stock was described as trading near its 52-week high.
PC Jeweller shares trade above their 5-, 10-, 20-, 30-, 50-, 100- and 200-day moving averages.
- Who
- PC Jeweller and its 14-bank consortium lenders.
- What
- PC Jeweller completed repayment of all outstanding bank debt and said it became debt-free.
- Where
- When
- September 25; the year is not specified.
- Why
- The company said the debt-free status would materially strengthen its balance sheet and financial position.
Key facts
- Debt status
- PC Jeweller said it achieved debt-free status.
- Lenders
- All outstanding debt owed to 14 consortium banks was discharged.
- Settlement agreement
- Repayments were made under the agreement dated September 30, 2024.
- Repayment timing
- All repayments were completed ahead of scheduled due dates.
- Stock position
- Shares were described as near their 52-week high.
- RSI
- The relative strength index stood at 66.6.
- Moving averages
- The stock traded above its 5-, 10-, 20-, 30-, 50-, 100- and 200-day moving averages.
Quotes
PC Jeweller
The jewellery company issuing the debt-repayment announcement
“The company has successfully discharged the remaining outstanding debt of the banks and has achieved its financial objective of a Debt-Free status.”
businesstoday.in
Sources
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