Mumbai, July 13: Kalyan Jewellers, Vedanta Iron and Steel, PC Jeweller and Vodafone Idea figured among the most actively traded stocks on the NSE by volume on Monday, reflecting heightened investor interest amid a mix of earnings updates, corporate announcements and stock-specific triggers.

While Kalyan Jewellers surged nearly 10% on the back of a strong June-quarter business update and bullish brokerage commentary, Vedanta Iron and Steel hit its 5% upper circuit after staging a rebound from recent losses. In contrast, PC Jeweller and Vodafone Idea witnessed profit booking after recent rallies, though both stocks continued to attract heavy trading volumes as investors assessed their latest corporate developments.

PC Jeweller Limited (down 1.30%)

PC Jeweller share price witnessed profit booking on Monday after a strong three-session rally, as investors locked in gains following a series of positive corporate developments. The stock had surged after the company announced on Thursday that it had repaid outstanding dues to another lender under the joint settlement agreement signed with a consortium of banks in September 2024.

The repayment marks another milestone in the jewellery retailer’s debt reduction programme, bringing it closer to its goal of becoming debt-free by the second quarter of FY27. The company has been aggressively deleveraging its balance sheet as part of its ongoing turnaround strategy.

The announcement followed PC Jeweller’s robust June-quarter business update, in which the company reported a 21% year-on-year increase in consolidated revenue. It also said outstanding bank borrowings have been slashed by more than 90% since the settlement agreement with lenders came into effect.

Management expects to retire the remaining debt during the current quarter, a move that is likely to strengthen the company’s balance sheet and improve financial flexibility. A debt-free status is also expected to bolster investor confidence and provide greater headroom for future expansion and growth initiatives.

Vodafone Idea Limited (down 1.62%)

Vodafone Idea share price slipped on Monday as investors booked profits after the stock rebounded over the previous two sessions, after a flat session in the wake of a four-day losing streak sparked by concerns over delays in securing proposed Rs 35,000-crore debt funding package.

The telecom operator had come under pressure last week after reports suggested that a consortium of lenders had sought additional safeguards and asked the company to submit a revised business plan before giving the green light to the loan proposal, raising uncertainty over the timing of the fundraising.

The delay has fuelled concerns that slower access to funds could impede Vodafone Idea’s network expansion and capital expenditure plans at a time when it is racing to narrow the gap with larger rivals such as Reliance Jio and Bharti Airtel. The proposed funding is seen as a critical component of the company’s long-term revival strategy.

Vodafone Idea is counting on fresh capital to accelerate 4G and 5G network rollouts, enhance service quality and strengthen its competitive position in India’s telecom market. Investors remain focused on the progress of the funding proposal, with any further delays likely to weigh on the company’s turnaround prospects.

Kalyan Jewellers India Limited (up 9.55%)

Kalyan Jewellers India shares extended their stellar rally on Monday, building on sharp gains from the previous few sessions as investors continued to cheer the company’s robust June-quarter business update. The stock has been among the biggest gainers in recent sessions, buoyed by upbeat operational performance and a string of positive brokerage views.

The rally has significantly boosted the jewellery retailer’s market capitalisation, reflecting growing optimism that its strong execution, healthy demand trends and aggressive expansion strategy will sustain earnings growth. While the stock’s rapid ascent has prompted some investors to consider profit booking, sentiment remains largely positive amid expectations of continued business momentum.

Investor confidence was fuelled by Kalyan Jewellers’ better-than-expected June-quarter update, which came despite the presence of the 28-day Adhik Maas period, traditionally viewed as unfavourable for jewellery purchases. The company reported a robust 38% year-on-year increase in consolidated revenue, with its India business posting a similar 38% growth, driven by an impressive 28% rise in same-store sales. International operations also remained strong, with revenue increasing around 35%, while the West Asia business grew nearly 30%.

The company’s digital-first jewellery platform, Candere, emerged as another key growth driver, registering a 112% year-on-year jump in revenue. Kalyan also continued to strengthen its retail footprint during the quarter by opening 12 new showrooms under the Kalyan brand and five Candere stores, taking its total store count to 524.

The healthy operating update prompted several brokerages to reiterate their bullish stance on the stock, maintaining ‘Buy’ ratings despite revenue growth coming in marginally below some estimates. Analysts said the company’s franchise-led expansion model, improving profitability and rising return on capital employed (RoCE) continue to underpin its long-term investment case.

Brokerages also pointed to Candere’s rapid scaling as an important growth catalyst, alongside sustained showroom additions and strong same-store sales growth. With the festive and wedding season approaching, analysts expect healthy consumer demand to provide another leg of growth for the jewellery retailer in the coming quarters.

Vedanta Iron and Steel Limited (up 4.99%)

Vedanta Iron and Steel share price hit the 5% upper circuit on Monday, extending a rebound after Friday’s recovery from a bout of sustained selling pressure seen over the previous few sessions. Despite the recent weakness, the stock has still delivered strong gains of around 73% since its market debut on June 15, even as it has declined more than 5% over the past week.

The company had released its June-quarter operational update earlier this month, reporting a steady performance across key metrics. Saleable iron ore production rose 4% year-on-year to 2.6 million dry metric tonnes (DMT) in the first quarter of FY27, supported by stable mining operations.

On a sequential basis, however, production eased 3% from 2.7 million DMT recorded in the March quarter, suggesting a moderation in output compared with the preceding quarter.

Investors will continue to monitor the company’s production trajectory and any management commentary on demand conditions, cost trends and expansion plans, which could influence sentiment after the stock’s sharp listing gains and recent volatility.

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