PC Jeweller shares down 6% Wednesday, over 13% weekly fall
Business
PC Jeweller's stock dropped 6% on Wednesday, adding up to an over 13% fall over the past week.
The main reason? Investors are booking profits after recent gains, which led to a big spike in trading (around 1,971.14 lakh shares changed hands).
During Wednesday's trading session, the company's market value stood at ₹11,663.55 crore.
PC Jeweller settles most bank debts
On the bright side, PC Jeweller just announced it has settled debts with most of its banks ahead of schedule and paid off over 96% of what's left.
The company says it expects to be completely debt-free this month, a move that should really help strengthen its finances going forward.