Penny stock under ₹10 trades green despite stock market sell-off

Penny stock under ₹10: The Indian stock market extended the selling spree for the ninth straight session. Out of the three key indices, the Nifty 50 index opened lower at 24,152 and touched an intraday low of 24,027. However, some stocks witnessed buying interest despite selling pressure on Dalal Street. PC Jeweller shares are one of them. PC Jeweller share price opened higher at ₹9.65 apiece and touched an intraday high of ₹9.87 per share within a few minutes of the Opening Bell. The penny stock is still trading green, as the Closing Bell is just an hour away.

PC Jeweller news

The jewellery brand informed the Indian stock market exchanges on Tuesday that it had cleared the outstanding debt of 8 out of the 14 bank consortium, saying, “In line with its objective of achieving a debt-free status in the current quarter 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."

PC Jeweller went on to add, "With this successful clearance of debt, the Company has now repaid all the outstanding debt of 8 out of the 14 consortium banks, with all repayments completed ahead of scheduled due dates. Further, the company has discharged more than 96% of the outstanding debt of the remaining 6 banks as well. The company remains firmly on track to discharge the remaining less than 4% of the outstanding debt of the remaining 6 banks and achieve a debt-free status in the ongoing quarter itself, which will materially strengthen its balance sheet and financial position.”

PC Jeweller Q1FY27 results

PC Jeweller reported a 37.2% year-on-year (YoY) rise in consolidated net profit to ₹222 crore in Q1FY27, compared with ₹153 crore in the corresponding quarter of the previous financial year.

The company’s revenue from operations also grew strongly, increasing 21% YoY to ₹877 crore in Q1FY27 from ₹725 crore in Q1FY26.

Consolidated operating profit after tax (PAT), excluding other income, witnessed a sharp 168% YoY increase to ₹213 crore in the June quarter, up from ₹79 crore in the year-ago period. The significant improvement reflects stronger performance in the company’s core operations.

During the June 2026 quarter, PC Jeweller also completed its ₹2,702.11 crore preferential issue of fully convertible warrants, with 93% of the proceeds having been realised.

The company continued to receive promoter support after the quarter ended, with another 4.16 crore warrants subsequently converted into equity shares.

PC Jeweller fundraise

In July 2026, the PC Jeweller board approved a proposal to raise up to ₹1,000 crore through a Qualified Institutional Placement (QIP), subject to requisite approvals. The proposed capital raise is aimed at supporting future growth initiatives, strengthening financial flexibility and enabling the company to expand its operations.

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