PC Jeweller Shares Extend Gains for Second Session as Debt Repayments Near Completion

PC Jeweller shares continued their upward run on Thursday, September 10, gaining more than 3% during the session as the jewellery retailer moved closer to completing repayments under its settlement with a consortium of banks.

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The stock opened at ₹13.95 on the NSE, slightly above Wednesday’s close of ₹13.87. It went on to touch an intraday high of ₹14.35, while the day’s low stood at ₹13.94. 

At 9:45 am, PC Jeweller’s market capitalisation was ₹13,779.25 crore. 

Thursday marked the second straight session of gains for the stock. PC Jeweller had risen 4% on Wednesday, recovering after profit booking in the previous session brought a three-day winning streak to an end. 

Debt Repayments Remain in Focus 

The recent buying has come as PC Jeweller makes further progress on clearing debt owed to its consortium lenders. 

In its latest exchange filing, the company said it had fully repaid outstanding dues to 10 of the 14 banks in the consortium. All these repayments were completed ahead of their scheduled due dates. 

The remaining debt has also come down sharply. PC Jeweller has repaid more than 96% of the outstanding amount owed to the other four banks, leaving less than 4% still to be cleared. 

The company expects to complete these remaining repayments by the end of September and achieve debt-free status. 

Settlement Dates Back to September 2024 

PC Jeweller’s repayment programme stems from a one-time settlement agreement signed in September 2024 with a consortium of 14 banks led by State Bank of India. 

The agreement was aimed at resolving stressed loan exposure of nearly ₹4,100 crore as of March 2024. 

Apart from SBI, the banking consortium includes Union Bank of India, Punjab National Bank, Axis Bank, IndusInd Bank, Bank of India, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of Baroda and IDFC First Bank. 

With dues to 10 consortium lenders now fully repaid and more than 96% of the amount owed to the remaining four banks already cleared, PC Jeweller is approaching the final stage of its repayment plan. 

That progress has kept the stock in focus this week, with Thursday’s gain extending its recovery into a second consecutive trading session.