PC Jeweller shares rebounded on Wednesday after the company said it had cleared outstanding debt with another bank, paving the way for it to become debt-free by the end of this month. The jeweller has now repaid dues to 10 of the 14 consortium banks.

PC Jeweller shares surged 4% to Rs 14.08 apiece in Wednesday’s morning trade. The gains came a day after profit booking on Tuesday snapped a three-day winning streak.

The stock has gained 38% over the past week.

PC Jeweller shares have gained more than 40% in one month and 50% in 2026 so far. In the longer term, the multibagger stock has delivered strong returns of nearly 400% over three years and 430% over five years.

Also read | PC Jeweller shares fall 5% after sharp 3-day rally

PC Jeweller to become debt-free this month?

The sharp rally in PC Jeweller’s share price began last week after the company said it is on track to become debt free by this month. In the latest exchange filing released on Tuesday, the company said it has now repaid all outstanding debt to 10 out of 14 consortium banks, with every repayment completed ahead of the scheduled due dates.
PC Jeweller added that it has discharged more than 96% of the outstanding debt owed to the remaining four banks, and remains on track to clear the balance of less than 4% owed to these banks to achieve “debt-free” status by the end of this month. The company said this will materially strengthen its balance sheet and financial position.The settlement agreement, which was signed in September, 2024, was a one-time settlement between PC Jeweller and a 14-bank consortium led by State Bank of India (SBI), which aimed to resolve a stressed loan book that stood at nearly Rs 4,100 crore as of March 2024. The other consortium members included Union Bank, Punjab National Bank (PNB), Axis Bank, IndusInd Bank, Bank of India, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of Baroda and IDFC First Bank.

Also read | Why is the stock market down today? Sensex plunges 600 points, Nifty below 23,500. 6 key triggers behind D-Street selloff

PC Jeweller Q1 results

PC Jeweller in August reported a consolidated net profit of Rs 222 crore in Q1 FY27, marking 37% year-on-year (YoY) increase from the Rs 153 crore reported in the year-ago period. Revenue from operations, meanwhile, rose 21% YoY to Rs 877 crore in the April-June quarter of the ongoing financial year, from Rs 725 crore in the year-ago period.

PC Jeweller’s consolidated operating PAT, excluding other income, surged to Rs 213 crore in Q1 FY27 from Rs 79 crore in the year-ago quarter. This translates into an impressive 168% YoY growth, highlighting a substantial improvement in the company’s core business performance.

Disclosure: “This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.”

Shares of Sterlite Technologies surged 5% to hit a fresh 52-week high of Rs 865.90 apiece on Wednesday, with the stock remaining locked in the upper circuit.

The multibagger stock has gained 745% so far in 2026, while rising over 21% in the past week and 36% in the last month.

The recent sharp surge in Sterlite Tech’s share price began after the company outlined its long-term growth plans, including a target of becoming one of the top five players globally in optical connectivity solutions and achieving revenue of Rs 20,000 crore by FY29.

Also read | HFCL, Sterlite Tech shares jump: What’s driving up to 705% multibagger run?

The company identified optical TAM expansion, customer co-development, integrated connectivity solutions and tech-led differentiation as key growth drivers. It also plans to expand its capacity to 1.5 times to support the next phase of growth.

The company has also approved a Rs 3,000 crore capital expenditure plan to expand capacity at its existing manufacturing facility. The proposed expansion will increase its existing installed manufacturing capacity by approximately 50%, with the additional capacity expected to be operational by the end of FY29.

Sterlite Tech Q1 performance

Earlier this year, Sterlite Tech reported its strongest quarterly performance in Q1 of the ongoing FY27, helped by higher demand for optical connectivity products, growth in its data centre business and a record order book linked to AI-ready digital infrastructure.The company reported revenue of Rs 1,910 crore for the June quarter, marking a whopping 87% YoY rise from Rs 1,019 crore reported in the same quarter last year. Sequentially, revenue rose 33% from Rs 1,441 crore reported in Q4 FY26. Profit after tax rose 870% to Rs 197 crore from Rs 10 crore a year earlier. In the March quarter, the company had reported PAT of Rs 59 crore.

EBITDA rose to Rs 397 crore, compared with Rs 140 crore in Q1 and Rs 218 crore in the previous quarter. EBITDA margin stood at 20.8%, the highest in nearly 20 quarters, helped by a better product mix, operating leverage and higher contribution from the data centre business.

Also read | Sterlite Tech targets Rs 20,000 crore revenue by FY29 amid booming AI demand

CLSA on Sterlite Tech share price

CLSA has an ‘Outperform’ rating for the shares of Sterlite Tech, with a target price of Rs 950 apiece, implying another 15% upside potential from the stock’s previous closing price of Rs 824.70 apiece on NSE.

The international brokerage last month noted the company’s order book surged 155% QoQ to Rs 18,600 crore, pointing to a strong growth outlook. Factoring in the company’s recent Rs 1,500 crore QIP fundraising and the significant Q1 FY27 beat, CLSA raised its forecasts by 7-125% for FY27-29CL. The brokerage now sees Sterlite Technologies delivering a 62% EBITDA CAGR.

Also read | Why is the stock market down today? Sensex plunges 600 points, Nifty below 23,500. 6 key triggers behind D-Street selloff

Disclosure: “This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.”

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The property developer is fighting off a takeover attempt by Peel Group

Regeneration specialist Harworth is exiting the residential sector as it attempts to streamline its business.

The developer says it will refocus on strategic land, enabling works and selective development to maximise returns. It comes as Harworth continues to fight off a takeover attempt by Peel Group, which last month offered nearly £583m for the Rotherham-based group.

Harworth says the offer comes at a 19.7% discount to its EPRA NDV of £697.7m as at the end of June this year. Bosses set out in detail why the Peel approach “does not fully capture the additional embedded value within the group”. They pointed to a substantial hyperscale data centre pipeline and its more than 3.8million sqft of “construction-ready” industrial and logistics land, among other points.

It called the offer “highly opportunistic” to take advantage of a “dislocation” between its share price and the value of its underlying assets.

The comments come as Harworth published half year results for the six months to the end of June in which EPRA NDV was £697.7m, compared with £725m in the same period last year. It also saw a £16.9m fall in the value of its residential portfolio over the period, compared with a £14.7m decrease in the first half of last year.

Lynda Shillaw, chief executive of Harworth, said: “Harworth has made good operational and strategic progress during the first half of 2026 and into the second, against a challenging macroeconomic backdrop that has weighed on valuations, particularly in residential. Since 2021 we have successfully repositioned our land and development portfolio, shifting the weighting to 71% industrial & logistics and developing a significant powered land bank, in turn positioning the business to deliver strong returns to shareholders into the medium term.

“Our 34.8m sqft land and development pipeline, which includes 0.8GW of powered land, would be difficult to replicate today given its scale, together with the advanced planning and power supply status, and strategic locations, of many of its sites. Within this pipeline, we are seeing strong occupier demand across our industrial & logistics products, driven by structural growth trends.

“This includes the first pre-let at our 1.1m sqft Chatterley Park site in Staffordshire, to an advanced manufacturing occupier. Our largest-ever substantially construction-ready land bank of 3.8m sqft positions us to further capture this momentum through a combination of pre-lets, land sales and small to mid-box speculative builds.”

Like this story? For more news from the commercial property scene around the regions, visit our dedicated section here for the latest news and analysis within the sector.

HERSHEY, PA. — The Hershey Co. has promoted Dave Hulays to chief financial officer. He succeeds Steve Voskuil, who intends to retire in early 2027.

Hulays has more than 30 years of financial leadership experience, including the past 14 years at Hershey. He most recently was vice president of finance. Since joining Hershey in 2012 as vice president of finance for Canada, he has taken on broader financial leadership responsibilities across the company, including the US and international businesses, global supply chain, M&A and enterprise transformation.

Before joining Hershey, he spent 15 years at Procter & Gamble in commercial, supply chain, strategy, global business development and global business services across the company’s North American and international businesses.

“Dave is a proven, enterprise-minded finance leader who has helped shape nearly every corner of this business, from our commercial and supply chain organizations to our growth agenda,” said Kirk Tanner, president and chief executive officer of Hershey. “He leads with rigor, accountability and courage. I’m confident he’s the right person to lead our finance organization into its next chapter.”

Hulays holds a bachelor’s degree from the University of Waterloo and a master’s degree in business administration from York University’s Schulich School of Business in Toronto.

Voskuil, who has led Hershey’s finance organization for the past seven years, will move into the role of senior vice president of strategic projects until his retirement early next year. He will focus on initiatives for the CEO and board while ensuring a smooth transition with Hulays, the company said.

“I also want to thank Steve for his leadership over the past seven years,” Tanner said. “He has been an incredible partner to me and to this company, and his continued partnership will support some of our most important priorities as we move through this transition.”