PC Jeweller Shares Jump on Profit Rise
Shares of PC Jeweller surged to their highest level since May 2018 after reporting a significant rise in quarterly profit. The company also announced it has fully repaid its debt to a fourteen-bank consortium.
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PC Jeweller shares jumped 8.6% Thursday morning after posting a profit surge exceeding 50%. The rally pushed the stock to its highest level since May 2018 in India. The gain reflects improving fundamentals as the retailer successfully eliminates its entire bank debt.
The jeweler announced it fully repaid all outstanding borrowings owed to a 14-bank consortium. This clearance marks a major balance sheet turnaround for the company following years of financial restructuring.
