PC Jeweller shares jump 26% after Halwasiya’s ₹73.60 crore buy

PC Jeweller shares gained 26% across two trading sessions after Cupid promoter Aditya Kumar Halwasiya purchased 5.10 crore shares for ₹73.60 crore, Economic Times Markets reported, citing NSE block-deal data. The rally also followed the jewellery company’s announcement that it had cleared its outstanding consortium-bank dues ahead of schedule.

The report put the purchase price at ₹14.43 a share. It said PC Jeweller rose as much as 12% to an intraday high of ₹18.21 on the BSE in the second session. These are reported trading figures, not a live price: the article carries an October 19 publication date but identifies the session as Tuesday, leaving the precise trading date unclear.

Bank settlement adds to the backdrop

The New Delhi-based jeweller announced last month that it had completed repayments to all 14 consortium banks and attained debt-free status. According to the company’s account, payments were made before their scheduled deadlines, strengthening its balance sheet and financial position.

The repayments followed a one-time settlement signed in September 2024 with a consortium led by State Bank of India. The report describes the stressed loan book covered by that agreement as nearly ₹4,100 crore as of March 2024.

It also cites an earlier debt figure of around ₹3,000 crore without reconciling the two amounts. Neither figure should therefore be treated as the final cash settlement paid by the company.

Sector demand outlook remains separate from the share rally

The report also cited analysts expecting jewellery demand to remain healthy during the second half of FY2026-27, supported by festive and wedding purchases. These are sector forecasts rather than evidence of PC Jeweller’s future sales or earnings.

Preeyam Tolia, research analyst at Choice Institutional Equities, identified manufacturing expansion, broader product offerings and additional retail customers as potential growth drivers for business-to-business jewellers. He nevertheless expected margins to normalise as the advantage from lower-cost gold inventories faded.

Tanvi Kanchan of Anand Rathi attributed softer quarterly demand largely to changes in the festive calendar rather than weaker consumer appetite. In her assessment, customers were responding to high gold prices by exchanging old gold and moving towards studded jewellery, with larger organised retailers benefiting from their exchange programmes.

Those views provide context for the industry, but they do not establish whether PC Jeweller’s sharp price rise will persist or constitute a stock-specific investment recommendation.