PC Jeweller Share Price: Jewellery Stock Falls Over 5% After Three-Day Buying Spree; What's Behind the Sharp U-Turn?

The shares of PC Jeweller saw a sudden reversal on Tuesday, September 8, following three consecutive sessions of strong buying interest. The jewellery stock fell 5.5% for the day as the investors booked profits from their previous rally. 

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The shares began trading at ₹14.16 and fell by as much as 5.5%, with a low of ₹13.17 being reached. Despite yesterday’s fall, the stock still shows an increase of 37% in the last three days. 

How the stock has performed 

Tuesday's fall interrupts a strong stretch. PC Jeweller has gained more than 38% over one month, 53% over three months and 50% over six months. On a one-year basis, however, it is still marginally negative, down 0.4%. 

Those moves have played out within a wide 52-week band. The stock touched a 52-week low of ₹7.45 on March 30 this year, having earlier reached a 52-week high of ₹15.38 on September 17 last year. 

What has been driving the rally 

The main catalyst has been the company's progress towards clearing its debt. In an exchange filing on September 3, PC Jeweller reported that it had fully repaid the outstanding dues of one more bank under the terms of its settlement agreement dated September 30, 2024. 

With that repayment, the company has now settled all outstanding debt with 9 of its 14 consortium banks, and each of those settlements was completed before the scheduled due date. Of the amount owed to the remaining five banks, more than 96% has already been discharged. 

The company expects to repay the final balance, which is under 4% of what was owed to those five lenders, within the current month and reach debt-free status. It regards this as a material strengthening of its balance sheet and overall financial position. 

Q1 numbers and a planned capital raise 

Operating performance has added to the momentum. PC Jeweller reported robust results for Q1FY27, helped by stronger customer demand and higher footfall. 

The company is also lining up fresh capital for its next phase of growth. In July 2026, the board cleared a proposal to raise up to ₹1,000 crore through a qualified institutional placement, subject to the required approvals. According to the exchange filing, the money is intended mainly to fund future growth opportunities, improve financial flexibility and give the company greater capacity to scale its operations. 

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.