PC Jeweller clears debt with 13 of 14 consortium banks
PCJEWELLER · price
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On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.4 pts more than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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PC Jeweller has cleared outstanding debt with one more bank under its September 2024 Settlement Agreement. The company has now repaid 13 of its 14 consortium banks, discharging over 99 percent of total bank debt, with all repayments completed ahead of scheduled due dates. It aims to achieve full debt-free status within September 2026 itself, which it says will materially strengthen its balance sheet and financial position.
Near debt-free status and stronger balance sheet expected, which is positive for shareholders and could support the stock.