PC Jeweller Share Price Soars 14% to 52-Week High After Major Bulk Deal: Know Key Trigger Behind the Rally

PC Jeweller shares surged in Friday's trading session, October 16, after a large bulk deal involving the purchase of 5.10 crore shares by Aditya Kumar Halwasia, promoter of CUPID, brought fresh attention to the jewellery stock. The buying interest pushed the stock to a new 52-week high, extending a rally that has already delivered substantial gains over the past six months.

PC Jeweller Share Price Today After 5.10 Crore Share Bulk Deal

On the NSE, PC Jeweller opened at Rs 15.06 and climbed to an intraday high of Rs 16.45, marking a gain of around 14% from its previous close. At 11:07 am, the stock was trading at Rs 16.38. The sharp move placed the counter among the stocks drawing attention in the morning session, with the bulk deal emerging as the immediate catalyst for the rally.

Why Are PC Jeweller Stocks Rising?

The latest surge followed a bulk deal in which Halwasia purchased 5.10 crore shares of PC Jeweller at Rs 14.43 per share on Thursday. The size of the transaction has become a focal point for investors, particularly as the stock has been attempting to sustain its recovery after a prolonged period of debt-related pressure and weaker market confidence.

The bulk-deal data on Trendlyne shows that Halwasia purchased 5.10 crore PC Jeweller shares at an average price of Rs 14.43 on Thursday, October 15. The transaction was valued at approximately Rs 73.59 crore and represented around 0.52% of the company's equity, according to market reports.

The deal has helped put PC Jeweller back on investors' radar, with the stock's subsequent rise indicating a strong market response. However, the purchase price of Rs 14.43 and Friday's intraday high of Rs 16.45 reflect two different points in the trading timeline; the bulk-deal price should not be confused with the stock's current market price.

On October 9, JUMP Trading Financial India reported a purchase of nearly 5.87 crore shares at Rs 14.59 apiece, while HRTI reported a purchase of around 5.41 crore shares at Rs 14.64. The records also show substantial purchases by these entities on October 8 and September 23.

Debt Clearance Adds to PC Jeweller's Recovery Narrative

Apart from bulk-deal activity, PC Jeweller's progress on its balance sheet has been an important development for investors. The company said in an October 8 exchange filing that all 14 banks in its consortium had issued no-objection, no-dues and release letters, completing the formalities associated with the clearance of its outstanding debt. The company also said the related charges, securities, guarantees and undertakings had been released.

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