PC Jeweller Shares Climb 5% Despite Market Selloff as Debt-Free Journey Gains Momentum
Shares of PC Jeweller gained nearly 5% on Wednesday, bucking the broader weakness in the Indian equity markets after the company announced a...
Shares of PC Jeweller gained nearly 5% on Wednesday, bucking the broader weakness in the Indian equity markets after the company announced a key milestone in its ongoing debt reduction plan.
The stock rose as much as 6% during the session, even as benchmark indices traded in the red, with investors cheering the company’s progress toward becoming debt-free.
In a regulatory filing, PC Jeweller informed the stock exchanges that it has successfully repaid all outstanding dues covered under the Settlement Agreement dated September 30, 2024, with respect to two of its consortium banks. The company said the repayments mark a significant step in its financial turnaround strategy and reiterated its goal of achieving debt-free status during the current quarter.
