PC Jeweller stock surges 26% after Aditya Kumar Halwasiya buys
Business
PC Jeweller's stock just shot up 26% in two days, all thanks to a major investment from Aditya Kumar Halwasiya, the guy behind Cupid and known for his rapid rise in India's business scene.
He picked up 5.10 crore shares for ₹73.6 crore, pushing the stock to a recent high of ₹18.21 on the BSE.
PC Jeweller clears nearly ₹3,000cr debt
A big reason for the excitement: PC Jeweller is now officially debt-free after clearing nearly ₹3,000 crore owed to banks.
With its finances looking solid and analysts predicting strong jewelry demand during upcoming festive and wedding seasons, things are looking bright for the company's future.