Jewellery stock PC Jeweller witnessed profit booking on Thursday, September 24, after scaling its 52-week high in the previous trading session. The decline also came amid broader weakness in the domestic equity market, adding to the pressure on the stock.
PC Jeweller shares fell as much as 2.4% to hit an intraday low of ₹14.14 apiece on the BSE. The decline followed the stock’s climb to a fresh 52-week high of ₹14.87 on Wednesday, September 23. The stock had touched its 52-week low of ₹7.45 in March 2026.
Thursday’s decline came after PC Jeweller shares had gained for four consecutive trading sessions. During this four-session winning streak, the stock advanced more than 17%.
The broader market also remained under pressure on Thursday. The benchmark Nifty 50 and Sensex fell around 1% as rising crude oil prices and higher US bond yields weighed on investor sentiment. Brent crude surged above $102 a barrel, raising concerns over inflation as well as India’s import bill. Meanwhile, the US 10-year Treasury yield climbed to 5.11%, putting further pressure on global equity valuations.
PC Jeweller stock price trend
Despite Thursday’s decline, PC Jeweller has delivered strong returns across several recent time frames. The stock has gained 15% in one week, 28% in one month, 62% in three months and 78% in six months.
However, its gains over the past year have been comparatively modest, with the stock adding 7% during the period. Over the longer term, the jewellery stock has delivered multibagger returns, soaring 459%.
Will the jewellery stock rebound?
According to Jigar S Patel, Senior Manager – Technical Research, Anand Rathi Share and Stock Brokers Limited, PCJEWELLER continues to maintain its uptrend, although the stock is currently facing resistance in the ₹14.50–15.00 zone. This area is likely to act as an important hurdle in the near term. A sustained daily close above ₹15 would indicate a breakout from the immediate resistance zone and could trigger fresh buying interest, he noted.
“On such a breakout, the stock may witness further upside momentum toward the ₹16–17 zone. On the downside, ₹13.65 remains the key support level and should be closely monitored. As long as the stock sustains above this support, the broader bullish structure remains intact. Traders may therefore watch for a decisive breakout above ₹14.50–15.00 for confirmation of further upside, while failure to sustain above support could lead to consolidation,” advised the expert.
PC Jeweller debt clearance
PC Jeweller has also been progressing towards its objective of becoming debt-free in the current month. In a stock filing yesterday, the company announced that it has successfully cleared and repaid all outstanding debt under the terms of the Settlement Agreement dated September 30, 2024, with respect to one more bank.
With the latest repayment, PC Jeweller has now repaid all outstanding debt owed to 13 of its 14 consortium banks, with all repayments completed ahead of their scheduled due dates.
“In line with its objective of achieving a debt-free status in the current month itself, the Company has successfully cleared and repaid all its outstanding debt under the terms of Settlement Agreement dated 30 September 2024 with respect to 1 more bank. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 13 out of the 14 consortium banks with all repayments completed ahead of scheduled due dates,” it said in the exchange filing.
Following this repayment, the company has discharged more than 99% of the outstanding debt of the banks. PC Jeweller said it remains firmly on track to discharge the remaining less than 1% of outstanding bank debt and achieve debt-free status in the current month.
The company said achieving debt-free status would materially strengthen its balance sheet and financial position.
PC Jeweller allots 1.18 crore shares to promoter
PC Jeweller on September 23 allotted 1,18,52,500 equity shares to promoter and Managing Director Balram Garg following the conversion of an equal number of fully convertible warrants. The shares were issued at ₹18 apiece, including a premium of ₹17, after Garg paid the balance ₹16,00,08,750, representing 75% of the warrant issue price.
Garg had originally been allotted 9,72,22,222 warrants, of which 4,90,07,500 had already been converted. Following the latest conversion, 3,63,62,222 warrants remained pending for conversion.
The latest allotment increased PC Jeweller’s paid-up equity share capital from ₹975.95 crore to ₹977.14 crore, comprising 97,71,39,855 shares.
Following the allotment, the promoter and promoter group’s shareholding rose from 38.80% to 38.88%, while public shareholding declined from 61.20% to 61.12%. The newly issued shares rank pari-passu with the company’s existing equity shares.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
