New Delhi, July 31 -- Jewellery stock PC Jeweller share price rebounded almost 3% from its day's low after the company announced that it has now processed and repaid more than 96% of its total outstanding bank debt and is likely to achieve debt-free status by the current quarter.

"In continuation to our earlier intimations regarding successful clearance and repayment of all the outstanding debt of 5 out of the 14 consortium banks, the Company is pleased to inform that, in line with its objective of achieving a debt-free status in the current quarter itself, the Company has successfully processed repayment of another significant amount of its remaining outstanding debt," it said in an exchange filing.

With this reduction, the company has...