PC Jewellers witnessed a notable surge of 1.98% to reach Rs 72.06 following the acceptance of a one-time settlement (OTS) proposal by IndusInd Bank to resolve outstanding dues. The settlement terms, approved by the bank, include a combination of cash and equity components, along with the release of secured assets and mortgaged properties.

PC Jeweller, a prominent player in India's gems and jewellery sector, operates in the manufacturing, retail, and export of gold, diamond, and studded jewellery. The company's recent financial results for Q4 March 2024 revealed a consolidated net loss of Rs 121.64 crore, an improvement from a net loss of Rs 302.41 crore reported in Q4 March 2023. However, net sales for the same period declined by 72.03% year-on-year to Rs 48.49 crore.

The acceptance of the OTS proposal by IndusInd Bank has been seen as a positive development by market observers, contributing to the upward movement in PC Jewellers' stock price. Investors are optimistic about the company's ability to strengthen its financial position and operational resilience following this settlement.

PC Jewellers continues to navigate challenges in the market while focusing on leveraging its brand strength and expanding its presence across domestic and international markets. The settlement with IndusInd Bank is expected to provide a significant boost to the company's efforts towards financial stability and sustainable growth in the coming quarters.