PC Jeweller shares jump 15% as stock extends recent rally

On Monday, September 7, PC Jeweller's stock saw a significant increase, rising as much as 14.7% during intraday trading on the BSE. The action was taken in spite of the general market's negative mood.

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The stock reached an intraday high of ₹13.65 after opening at ₹12.12, up from its prior closing of ₹11.90. It was expected to make gains for the third consecutive session.  

The jewellery stock is up 43% so far this year and has increased by more than 35% in the last month. On March 30, 2026, PC Jeweller hit a 52-week low of ₹7.45, and on September 17 of last year, it reached a 52-week high of ₹15.38. 

On a monthly basis, the stock has remained in positive territory since July. 

Debt repayment lifts sentiment 

One of the factors behind the recent rise has been PC Jeweller's progress towards becoming debt-free. 

In an exchange filing on September 3, the company said it had cleared and repaid all outstanding debt under the settlement agreement dated September 30, 2024, in relation to one more bank. 

With that repayment, PC Jeweller said it had now cleared the outstanding debt of nine of its 14 consortium banks. The company said all these repayments had been completed ahead of their scheduled due dates. 

It also said that more than 96% of the outstanding debt of the remaining five banks had been repaid. 

PC Jeweller said it was on track to clear the remaining less than 4% of the outstanding debt with those five banks and achieve debt-free status in the current month. 

Q1 performance 

PC Jeweller also reported an improvement in its operating performance in the first quarter of FY27, supported by better customer demand and footfall. 

Consolidated revenue for the quarter rose approximately 21% year-on-year to ₹877 crore. Gross profit increased 81% year-on-year to ₹260 crore. 

Separately, the company's board approved a proposal in July 2026 to raise up to ₹1,000 crore through a qualified institutional placement, subject to the required approvals. 

According to the company's exchange filing, the proposed fundraising will be used mainly to support future growth opportunities, improve financial flexibility and help the company scale its operations. 

What technical charts show 

PC Jeweller observed a robust bullish breakout on the weekly chart, according to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share & Stockbrokers. The stock gained 12.39% in the most recent session, reaching ₹13.33.  

The stock was trading above its exponential moving averages at 55, 89, 100, and 200 weeks. The ADX was at 21.65, while the DMI displayed +DI at 38.35 vs -DI at 11.44. 

At the same time, Patel pointed out that the RSI was at 71.53 and the Stochastic indicator at 89.19, both indicating overbought conditions. He said some consolidation or profit-booking could therefore not be ruled out. 

According to Patel, immediate support for the stock was at ₹10.40–₹10.45, around the weekly EMA cluster, while a deeper support level was placed near ₹9.40. Resistance was observed between ₹13.60 and ₹14.00, then ₹15.00.  

He stated that while a closure below ₹10.40 would undermine the bullish setup, a sustained advance over ₹13.60 would result in additional gains.  

After a bullish breakout on Friday, September 4, 2026, PC Jeweller saw a significant increase, according to Vipin Kumar, AVP-Research at Globe Capital Market. According to him, the stock had broken out of an eight-month consolidation zone with a significant increase in volume. 

Kumar said the chart setup pointed towards continued momentum, with initial upside targets of ₹15.50 and ₹18.50 in the near term. He also said traders could consider accumulating fresh positions on dips around the ₹11.50–₹12 levels.