PC Jeweller Slips 3% Even After Debt-Free Announcement

PC Jeweller shares fell as much as 3% on Thursday, touching a day’s low of Rs 10.26 on the NSE, despite clearing more bank debt.

Profit booking seems to be the real story here. The stock had jumped more than 7% the previous day, so some investors were always likely to cash out gains once the initial excitement faded, even with positive news on the table.

Here’s what the company actually said. In a filing after market hours on Wednesday, PC Jeweller confirmed it had repaid its remaining dues to one more lender bank under a settlement agreement first signed back in September 2024.

With that repayment done, the company has now cleared its debt to 4 out of the 14 banks it owed money to. It called this a debt-free milestone, saying every one of those four banks was paid off well ahead of schedule. There’s more happening behind the scenes too.

The company’s board was scheduled to meet on Thursday to consider raising fresh funds through a Qualified Institutions Placement, a route where shares are sold directly to large institutional investors rather than the general public.

The money, if raised, is expected to go toward expanding the retail business and building up working capital, essentially funding growth without adding new debt back onto the books.

Zooming out a bit, the stock has had a rough year overall. It’s down about 40% over the past 12 months and hit a 52 week low of Rs 7.47 back in March.

That said, it has bounced nearly 14% over just the past month, and some market watchers have pointed out signs of renewed buying interest building beneath the surface. At 14:35 pm, PC Jeweller shares were trading at Rs 10.28 on the NSE, down 2.74% for the day.

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