The shares of the small-cap jewellery company 'PC Jeweller' have been witnessing a bullish run for the past few sessions, rising nearly 30 per cent in the last week. The stock rose nearly 4 per cent during the intraday trade on Thursday, September 10, hitting a day high of Rs 14.35 as compared to the last closing of Rs 13.88 on the NSE. However, the Jewellery stock erased the early gains amid a decline in the stock market and profit booking. Last seen, the scrip was trading at Rs 13.90, up 0.14 per cent or Rs 0.020 as compared to the last closing.
Share Price History
According to data on NSE till the close on September 10, the jewellery stock skyrocketed 31 per cent in a week. In a month, PC Jeweller shares escalated 40 per cent. Meanwhile, till date this year, the small-cap stock rose 48 per cent. In a year, the scrip jumped 4 per cent.
In the long term, the Jewellery stock rose nearly 400 per cent, and in the last five years, the counter surged 430 per cent.
Timeframe | Performance (Percentage Increase) |
|---|---|
1 Week | 31% |
1 Month | 40% |
YTD | 48% |
1 Year | 4% |
Long Term | 400% |
5 Years | 430% |
What cause Rally In PC Jeweller Stock
The company's recent moves towards achieving a debt-free status have been a key trigger for the rally in the stock. Recently, it has announced paying off all outstanding dues with 10 of the 14 consortium banks. And today, it said that it has paid dues to one more consortium bank, taking the number to 11 out of 14.
"In line with its objective of achieving a debt-free status in the current month itself, the Company has successfully
cleared and repaid all its outstanding debt under the terms of the Settlement Agreement dated 30 September 2024 with respect to 1 more bank. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 11 out of the 14 consortium banks with all repayments completed ahead of scheduled due dates," the company said in an exchange filing.
"Further, the company has discharged more than 96 per cent of the outstanding debt of the remaining 3 banks as
well," the filing said further.
The debt payment activities attract investors' attention to the stock.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice. Please consult with a certified financial advisor before investing.