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New Delhi: Shares of PC Jeweller Ltd, a jewelry company, are seeing a strong rally today. The company’s stock was trading up more than 4%. This rise in the stock is due to a significant update provided by the company. In fact, the company said in its latest exchange filing after the market closed on Tuesday that it has taken a big step towards its goal of becoming completely debt-free in the current quarter.
The company has successfully repaid the entire outstanding debt to two banks, part of a consortium of 14 banks, under a settlement agreement dated September 30, 2024. The company stated that this represents an important beginning in its turnaround journey. The company aims to become completely debt-free this quarter and will continue to pursue settlements with the remaining banks.
The company’s stock was trading at Rs 9.85, up 4.68% or Rs 0.44 on the NSE, and at Rs 9.86, up 4.67% or Rs 0.44 on the BSE, at 9:31 am.
The company recently reported strong business performance in the first quarter of fiscal year 2026-27 (Q1FY27). Consolidated revenue grew approximately 21% year-on-year during this period. The company, one of the leading brands in the studded jewelry segment, said this performance reflects the continued progress towards its ongoing business turnaround.
PC Jeweller’s consolidated net profit rose 61.3% year-on-year to ₹152.9 crore in the March quarter, compared to ₹94.8 crore in the same quarter last year.
The company’s operating income increased 32.7% to ₹927.3 crore (approximately $1.2 billion) from ₹699 crore (approximately $1.9 billion) a year earlier. According to the company, revenue from domestic operations increased by approximately 33%, while profit before tax increased by approximately 59%. PC Jeweller has around 50 stores across major cities.
Equity benchmark indices Sensex and Nifty fell sharply by over 2 per cent during the fag-end of the trade on Wednesday amid reports that the US President Donald Trump said the interim agreement with Iran is over, leading to a sharp rally in crude oil prices.
The 30-share BSE Sensex tanked 1,722.99 points, or 2.20 per cent, to 76,457.73 in intraday trade. The 50-share NSE Nifty tumbled 530.05 points, or 2.17 per cent, to 23,868.65. Brent crude, the global oil benchmark, jumped 6.19 per cent higher at USD 78.75 per barrel.
US President Donald Trump on Wednesday said the interim agreement with Iran was “over” but he would allow talks to continue. That raised concerns that the wider conflict in the Middle East could resume — and oil prices shot up.
In Asian markets, South Korea’s Kospi tumbled 5.35 per cent, Japan’s Nikkei 225 index declined 2.11 per cent, and Shanghai’s SSE Composite index dipped 0.49 per cent. Hong Kong’s Hang Seng index jumped 2.99 per cent.
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