Shareholders of PC Jeweller seem to have reason to rejoice, given the stock’s solid performance in 2026 despite broader market weakness amid rising geopolitical tensions. Although the stock began the year on a tumultuous note, it picked up steam in the second half and has continued to hit multi-month highs since then, supported by a series of positive developments.
During Thursday’s trade, the stock touched a fresh one-year high of ₹20.10 apiece, a day after the company announced its September-quarter performance. So far this month, the stock has gained 36% and is on track to extend its winning streak to a fourth consecutive month.
The rally has also taken its year-to-date gains to 90%, marking a stark turnaround from a 40% plunge in 2025.
Even after the bumper rally, analysts expect the rally in PC Jeweller to extend, with the stock potentially reaching ₹27, citing a favourable technical setup.
PC Jeweller stock eyes breakout above ₹20
According to Sachin Gupta, VP – Technical Research at Choice Broking, PC Jeweller is showing signs of a potential bullish breakout on the monthly chart, backed by a sharp rise in price and trading volumes. After a prolonged consolidation phase, the stock has moved back towards a crucial resistance zone of ₹19– ₹20, marked by a long-term trendline connecting previous highs.
Gupta said the monthly Relative Strength Index (RSI) has improved to around 69, indicating strong buying momentum. A sustained breakout above ₹20, supported by strong volumes, could signal further upside.
On the weekly chart, the stock has surged 17.22% to trade at ₹19.50, accompanied by a sharp increase in volumes. It is trading well above its 50-week Exponential Moving Average (EMA) at ₹11.37 and 200-week EMA at ₹9.74, reflecting a significant improvement in its long-term trend.
However, Gupta noted that the weekly RSI at 77.09 indicates overbought conditions, so some profit-booking cannot be ruled out near current levels.
Gupta pointed out that a decisive breakout above ₹20 could open the way towards ₹23 and ₹27, while ₹17 and ₹15.50 are likely to act as immediate support levels.
PC Jeweller Q2 performance
PC Jeweller posted a 58% jump in net profit to ₹331 for the September quarter crore from ₹210 crore in the same period last year. Its consolidated revenue from operations surged 28% to ₹1,054 crore from ₹825 crore in the year-ago quarter, driven by continued consumer demand during the festive and wedding season.
At the operating level, the company’s EBITDA stood at ₹309 crore, up from ₹178 crore a year earlier, while its EBITDA margin improved to 29.3% from 21.5% in the year-ago quarter, reflecting improved operational efficiency and robust sales growth, according to the company’s Q2 earnings filing.
During the quarter, the company s achieved debt-free status after repaying its outstanding dues to all 14 consortium banks ahead of schedule.
Meanwhile, the company plans to open up to 100 large-format showrooms across Tier I, Tier II and Tier III cities over the next 12–18 months, through a mix of company-owned outlets and an asset-light franchise model.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
