Mumbai, July 10: PC Jeweller, Vodafone Idea, Vedanta Iron and Steel and Kalyan Jewellers emerged as the most actively traded stocks on the NSE by volume on Friday, with shares of these companies witnessing strong investor interest amid company-specific developments. PC Jeweller continued its recent rally after further progress on debt repayment, while Vodafone Idea gained as investors tracked developments around its fundraising plans. Vedanta Iron and Steel rebounded after recent selling pressure, and Kalyan Jewellers extended its sharp rally following strong June-quarter business updates and positive brokerage commentary. Here are the key stocks that dominated trading activity on the NSE today.
PC Jeweller Limited (up 1.73%)
PC Jeweller extended its recent rally on Friday after gaining in the previous two sessions, following the company’s announcement that it had cleared its outstanding dues with another lender under its September 2024 settlement agreement with a consortium of banks.
The latest repayment marks further progress in the jewellery retailer’s balance sheet restructuring efforts, as the company moves closer to its target of becoming debt-free by the second quarter of FY27.
The development comes after PC Jeweller’s June-quarter business update, where the company reported a 21% year-on-year growth in consolidated revenue and said it had reduced its outstanding bank debt by more than 90% since signing the joint settlement agreement with lenders.
The company has been steadily reducing its liabilities as part of its turnaround strategy and expects to clear the remaining debt in the current quarter. Management believes becoming debt-free will improve financial flexibility, strengthen investor confidence and provide a stronger foundation for future growth.
Vodafone Idea Limited (up 1.21%)
Vodafone Idea shares extended their gains on Friday after rebounding in the previous session following a flat ending the day before, after a four-day losing streak triggered by concerns over fresh roadblocks in the telecom operator’s efforts to secure a ₹35,000-crore loan package.
Investor sentiment had taken a hit earlier in the week following reports that a consortium of lenders was seeking additional safeguards and had asked the company to submit a revised business plan before approving the funding.
The uncertainty over the loan package raised concerns that delays in fund availability could affect Vodafone Idea’s network expansion plans and capital expenditure programme, both of which are considered crucial for strengthening its position in India’s highly competitive telecom market.
The company has been seeking fresh capital support to accelerate network upgrades and improve service quality as it competes with larger rivals in the sector. Any delay in securing financing could potentially slow its turnaround efforts and impact its ability to invest in infrastructure.
Vedanta Iron and Steel Limited (up 5%)
Vedanta Iron and Steel shares rebounded on Friday after coming under sustained selling pressure in the previous session, when the stock hit the lower circuit for another day and extended its recent decline. The stock has fallen 14% over the past week, though it remains up 65% from its listing price after making its market debut on June 15.
The company reported a steady operational performance in its June-quarter business update released last week. Vedanta Iron and Steel said saleable iron ore production rose 4% year-on-year to 2.6 million dry metric tonnes (DMT) during the first quarter of FY27.
However, production declined 3% sequentially from 2.7 million DMT in the March quarter, indicating a moderation in output compared with the previous quarter.
Kalyan Jewellers India Limited (up 5.96%)
Kalyan Jewellers India shares extended their winning streak for a third consecutive session on Friday, as investors continued to back the jewellery retailer’s strong June-quarter business performance and favourable brokerage commentary.
The stock has rallied around 34% in the past three trading sessions, adding nearly ₹11,500 crore to its market capitalisation. The sharp recovery follows a brief sell-off earlier in the week, when the stock declined despite the company reporting healthy quarterly growth, as investors reassessed expectations and valuations.
The recent surge has been driven largely by positive views from brokerages, which retained their ‘Buy’ ratings on the stock even as June-quarter revenue growth came in slightly below their estimates. Analysts said the company’s long-term growth outlook remains intact, supported by its franchise-led expansion strategy, improving return on capital and the rapid growth of its digital jewellery platform, Candere.
Brokerages believe Kalyan Jewellers’ asset-light expansion model will help the company scale its store network while keeping capital requirements under control compared with company-owned outlets. The continued expansion of Candere has also strengthened the company’s omnichannel strategy, providing an additional growth avenue.
The buying interest follows Kalyan Jewellers’ June-quarter business update, which highlighted strong demand across both domestic and international markets despite a challenging operating environment.
The company reported a 38% year-on-year rise in consolidated revenue during the April-June quarter. Its India operations grew around 38%, aided by same-store sales growth of nearly 28%, while international revenue increased 35%, driven by close to 30% growth in West Asia. The strong operating performance has reinforced investor confidence in the jewellery retailer’s growth trajectory.
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