Trending Stocks Today: PC Jeweller Extends Rally, Vodafone Idea, YES Bank, Jaiprakash Power Fall

Mumbai, October 21: PC Jeweller, Vodafone Idea, YES Bank and Jaiprakash Power Ventures were among the most traded stocks by volume on the National Stock Exchange (NSE) on Wednesday, October 21. PC Jeweller shares rose 1.60%, extending their winning streak to a third consecutive session as investors tracked a bulk deal involving Cupid CMD Aditya Kumar Halwasiya, the company’s debt-free status and its latest business update. In contrast, Vodafone Idea fell 4.15% as Jio Platforms’ ₹30,213-crore IPO opened for subscription, while YES Bank declined 4.86% amid concerns over the financial implications of the Supreme Court’s ruling on its AT1 bonds. Jaiprakash Power Ventures plunged 7.24% after an exceptional charge dragged its September-quarter net profit down 81.7% year-on-year.

PC Jeweller Limited (up 1.60%)

PC Jeweller shares extended their rally to a third consecutive trading session on Wednesday, as investors assessed a recent bulk deal involving Cupid Chairman and Managing Director Aditya Kumar Halwasiya, the jewellery retailer’s transition to a debt-free position and its latest business update. Attention is also turning to the company’s September-quarter earnings, which could offer further clues about its financial recovery.

Halwasiya purchased 5.10 crore shares of PC Jeweller in a bulk deal on Friday last week for approximately Rs 73.59 crore. The transaction was executed at an average price of Rs 14.43 per share, drawing investor attention to the stock as the company works to strengthen its balance sheet.

The rally follows a major financial milestone for PC Jeweller, which has cleared its outstanding dues to all 14 banks in its lending consortium. The company has said it has eliminated approximately Rs 3,000 crore in bank debt, marking a significant step in its efforts to reduce financial pressure and improve its financial position.

PC Jeweller has also reported encouraging business developments ahead of its quarterly results. Revenue grew approximately 28% year-on-year in the second quarter of FY27, supported by healthy demand. The company also received around Rs 142 crore in remittances against outstanding export receivables during the quarter, providing an additional inflow of funds.

Earlier, the jewellery retailer raised up to Rs 500 crore through a preferential issue of equity shares and warrants, which was completed in September. The capital raising, combined with debt reduction and export-related cash inflows, has placed the company’s financial position under closer investor scrutiny.

The stock’s gains also come during the festive and wedding seasons, traditionally important periods for jewellery retailers. Investors will look for evidence that stronger demand is translating into sustained revenue growth and improved profitability.

PC Jeweller’s upcoming quarterly results will be closely watched for details on margins, cash flows and the sustainability of its business recovery. While the bulk deal and debt reduction have helped bring the stock into focus, its ability to sustain the rally will depend on earnings performance, financial discipline and broader market conditions.

Vodafone Idea Limited (down 4.15%)

Shares of Vodafone Idea continued to decline for a second consecutive trading session on Wednesday, October 21, as Jio Platforms’ much-anticipated initial public offering opened for subscription, with the IPO getting fully subscribed in less than two hours of public bidding. The telecom operator’s stock remained in focus as investors assessed the competitive implications of the public issue by Reliance Industries’ digital and telecoms subsidiary.

Jio Platforms launched its Rs 30,213-crore IPO on Wednesday, with the issue scheduled to remain open until October 23. Priced in a band of Rs 1,065-1,119 per share, the offering is India’s largest public issue to date and marks Reliance’s return to the IPO market after two decades. The company has attracted substantial institutional interest, having raised around $853 million from anchor investors ahead of the public offering.

Jio’s entry into the public market comes against the backdrop of intense competition in India’s telecom sector. The company, which began operations in 2016 with low-cost data and voice services, rapidly gained market share from established operators, including Vodafone Idea and Bharti Airtel.

For Vodafone Idea, investors will continue to monitor subscriber trends, financial performance, funding requirements and its ability to compete with better-capitalised rivals. The company’s recent share-price movement also comes amid broader market volatility and heightened attention on telecom stocks as investors assess the implications of Jio’s public listing.

Yes Bank Limited (down 4.86%)

Shares of YES Bank plunged on Wednesday, extending pressure on the stock from Monday as investors continued to assess the potential financial impact of the Supreme Court’s decision to overturn the lender’s 2020 write-off of Rs 8,400 crore in additional tier-1 (AT1) bonds. The concerns persisted despite the bank reporting a 65% year-on-year increase in net profit for the September quarter.

YES Bank said that had it accounted for the implications of the Supreme Court ruling, it would have reported a loss of Rs 5,217 crore for the quarter ended September. The potential hit has raised concerns over the bank’s financial position, overshadowing its stronger-than-expected quarterly earnings and keeping investor focus on the legal and accounting implications of the verdict.

Jaiprakash Power Ventures Limited (down 7.24%)

Shares of Jaiprakash Power Ventures plunged on Wednesday after the company reported an 81.7% year-on-year decline in consolidated net profit to Rs 33.34 crore for the September quarter. Earnings were weighed down by a one-time exceptional charge of Rs 511 crore towards a proposed settlement with the National Asset Reconstruction Company Ltd (NARCL) over a corporate guarantee furnished for loans to Jaiprakash Associates.

The decline came despite a 5.1% increase in revenue from operations to Rs 1,512.12 crore. EBITDA rose 39.3% year-on-year to Rs 656.54 crore, while the EBITDA margin improved to 43.4% from 32.8% a year earlier. The exceptional charge, however, significantly reduced the profit reported for the quarter.

Source:

• NSE