PC Jeweller shares declined nearly 2% in morning deals on the BSE on Thursday, 1 October, looking set to extend the losing streak for the sixth consecutive session. PC Jeweller’s share price opened at ₹13.20 against its previous close of ₹13.20 and dropped almost 2% to an intraday low of ₹12.95. Around 9:55 am, the jewellery stock was 1.6% down at ₹13.
PC Jeweller held its 21st Annual General Meeting (AGM) on Wednesday, 30 September 2026, wherein it considered and adopted its audited standalone financial statements for the financial year 2026 (FY26), among other things.
According to the company’s exchange filing, its consolidated revenue from operations stood at ₹ 3,353 crore for FY26, as compared to ₹ 2,245 crore in the previous year, and consolidated net profit for the year came at ₹722 crore compared to ₹577 crore in FY25.
The company added that it had incurred and paid interest amounting to approximately
₹175 crores to the banks during the debt repayment period. With no banking debt outstanding, the company said it will save on its financing costs in the future, which will have a positive impact on its bottom line.
The road ahead
The company, while underscoring that the jewellery market is mainly ruled by the unorganised sector in India, said it wants to explore the opportunity to tap these untapped rural and semi-urban markets located in tier 4 and below cities.
The company plans to establish up to 100 new showrooms, both owned and franchised, in the next 12 to 18 months.
Additionally, the company is also planning to launch a new jewellery brand which will be lightweight, budget-friendly, daily wear and most importantly, targeting youngsters.
PC Jeweller share price trend
The stock has delivered strong multibagger returns of nearly 400% over the last three years. In the last six months, it has jumped nearly 60%.
PC Jeweller share price recently hit a 52-week high of ₹14.87 on 23 September after hitting a 52-week low of ₹7.45 on 30 March this year.
Should you buy this stock on dips?
The company’s recent earnings have demonstrated upward momentum in revenue and operating profitability. Moreover, its act on debt settlement is also positive, according to experts.
However, the recent sharp rise in the stock has driven the valuation up.
On the technical front, Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, underscored that PC Jeweller is showing signs of weakness after forming a double-top pattern on the chart, accompanied by a bearish divergence on the RSI, indicating weakening momentum despite the earlier up move.
The combination suggests that the stock may enter a period of consolidation or witness profit-booking from current levels.
“Traders who are already holding the stock may consider locking in partial profits, while fresh long positions should be avoided until a clear breakout is witnessed. The immediate resistance is placed near ₹15, which remains the key level to watch on the upside. A decisive and sustained move above ₹15 could negate the current cautious setup and trigger further upside momentum,” said Patel.
“On the downside, ₹12 acts as the major support zone. A break below this level could further weaken the structure. Until ₹15 is decisively taken out, a cautious approach is advisable, with focus on protecting existing profits,” Patel said.
According to Aditya Thukral, founder and analyst at AT Research and Risk Managers, PC Jewellers has been in a short to medium-term uptrend with the formation of higher highs and higher lows.
Currently, the stock is in a very short-term corrective phase and seems to be forming another higher low for continuation of the medium-term uptrend.
“The stock price is well placed above all the major exponential moving averages. In this process, a higher low at ₹11.81 should hold, and the stock price will try to hit a fresh 52-week high above ₹14.86. It is in very short-term corrective mode, and the current price could be a possible long entry with the stop loss at ₹11.81, targeting a break above ₹14.86,” said Thukral.
Vipin Kumar, AVP-Research at Globe Capital Market, pointed out that the stock is trading in a higher high and higher low formation above both its long-term and short-term moving averages. This comes after a bullish breakout on 4 September 2026, from an eight-month congestion zone on significantly higher volume.
“The current chart structure points toward a further rise toward ₹15.50, followed by ₹18.50 in the near term. We suggest accumulating fresh positions in the ₹13– ₹12.40 range, targeting ₹15.50 and ₹18.50,” said Kumar.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
