Penny stock under ₹10 jumps 3.50% from today's low; here's why | Stock Market News

Penny stock under ₹10: Jewellery stock PC Jeweller share price rebounded 3.5% from its day's low after the company announced that it has successfully cleared and repaid all its outstanding debt.

It initially fell to its day's low of ₹9.57 but later rebounded 3.5% to its day's high of ₹9.92. It ended 1.76% higher at ₹9.81 per share on BSE.

In a regulatory filing, the company said the latest repayment comes in continuation of its earlier intimations regarding the successful clearance and repayment of outstanding debt to banks. With the repayment completed, PC Jeweller has now cleared all its outstanding debt relating to seven out of the 14 consortium banks.

"In continuation to our earlier intimations regarding successful clearance and repayment of outstanding debt to banks, the Company is pleased to inform that, today, 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 Settlement Agreement dated 30 September 2024 with respect to 2 more banks. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 7 out of the 14 consortium banks," it said in an exchange filing.

The company further said that the outstanding debt of all the seven banks has been prepaid and discharged well before the scheduled due date of repayment, reaffirming its objective of accomplishing a debt-free status during the current quarter itself.

PC Jeweller Ltd. on Monday said its board has approved the allotment of 1,10,50,000 equity shares to Balram Garg, Promoter and Managing Director, following the conversion of an equal number of fully convertible warrants issued on a preferential basis.

The company said the allotment was approved by the Board of Directors through a resolution passed by circulation on August 3, 2026. The allotment is in continuation of the company's earlier disclosure dated September 18, 2025, regarding the preferential allotment of 9,72,22,222 fully convertible warrants to Balram Garg.

According to the company, the equity shares were allotted upon receipt of the balance amount of ₹14,91,75,000, representing 75% of the issue price of ₹18 per warrant, or ₹13.50 per warrant, following the exercise of the promoter's right to convert the warrants into equity shares.

Following the allotment, the company's paid-up equity share capital has increased to ₹975,21,34,855, comprising 975,21,34,855 equity shares of face value ₹1 each, from ₹974,10,84,855, comprising 974,10,84,855 equity shares of face value ₹1 each

As per the annexure to the filing, Balram Garg has now converted 3,05,50,000 warrants out of the 9,72,22,222 warrants originally allotted to him. Following the latest conversion of 1,10,50,000 warrants, 5,56,22,222 warrants remain pending for conversion.

The preferential allotment has increased the shareholding of the promoters and promoter group to 377,96,15,960 shares, or 38.76%, from 376,85,65,960 shares, or 38.69%, prior to the allotment. The public shareholding remains unchanged at 597,25,18,895 shares, although its percentage holding has declined to 61.24% from 61.31% due to the increase in the company's total equity capital.

The penny stock fell 4% in the last 1 month, but, it rose 4% in 3 months. Meanwhile, it shed 5% in 6 months and 33% in 1 year. Moreover, it has given multibagger returns in the last 5 years, jumping 304%.

The stock had hit its 52-week high of ₹15.95 in August 2025 and its 52-week low of ₹7.45 in March 2026.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.

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