PC Jeweller Shares Rise After Major Acquisition
PC Jeweller stock recently experienced a strong rally following a notable share purchase by an external business leader. Aditya Kumar Halwasiya, who serves as the Chairman and Managing Director of healthcare and FMCG firm Cupid, bought 5.10 crore shares valued at ₹70 crore. Following this transaction, the equity value saw an upward movement, capturing market attention.
Market Performance and Price Movement
Examining the intraday trading session, the equity opened with an upside gap at ₹15.06 per unit. During the trading hours, it reached a peak of ₹17.15 before closing with an 11 percent gain at ₹16 on the National Stock Exchange (NSE). Market observers noted strong trading activity surrounding the asset during the session.
Debt Elimination and Financial Position
Beyond the recent share acquisition, the enterprise previously announced the successful clearing of all outstanding financial liabilities. By opting for a one-time settlement arrangement, the brand resolved its obligations to all 14 consortium banks, effectively eliminating roughly ₹3,000 crore in debt ahead of scheduled due dates. Leadership highlighted that operating without bank debt will reduce future interest expenditures, bolstering the balance sheet and improving the bottom line.
Additionally, during the September quarter, liquidity was further supported by remittances totaling ₹142 crore received from outstanding export debtors. The brand currently manages approximately 50 retail jewellery stores situated across major urban centers throughout the country.
Sources: TradingView, https://www.siam.in/, India TV News.
