PC Jeweller shares tumble 10%, snap 5-session rally; here's what analysts say

Shares of PC Jeweller Ltd halted their five-day winning streak in Tuesday's session, plunging 10 per cent to hit the lower circuit at Rs 16.85. With this decline, the stock has dropped 14.25 per cent from its 52-week high of Rs 19.65, touched just a day earlier.

Bourses BSE and NSE have put the securities of PC Jeweller under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

The company's Board is set to meet on July 10 to consider and approve a fundraise through the issuance of securities via preferential allotment.

In the June 2025 quarter (Q1 FY26), the jewellery firm delivered a strong operational performance, with standalone revenue soaring nearly 80 per cent year-on-year YoY, fuelled by strong wedding and festive demand. Despite fluctuations in gold prices, the company leveraged customer trust and brand goodwill to drive robust growth.

Demonstrating continued financial discipline, the company reduced its outstanding debt by around 7.5 per cent during the quarter, following a more than 50 per cent reduction achieved in FY25.

Analysts note near-term support in the Rs 16–17.50 range, with strong support around Rs 14.30–14.40. Fresh buying opportunities may emerge on dips, provided stop-losses are strictly maintained.

Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher (PL), observed that the stock faced resistance around the Rs 19.65 mark and has retreated slightly due to profit booking.

"The Relative Strength Index (RSI) has surged and is currently near the overbought zone, suggesting the need for some cooling before presenting a fresh buying opportunity," he said. While the overall outlook remains positive, Koothupalakkal highlighted near-term support at Rs 16, where the stock may consolidate before potentially resuming its upward momentum toward targets of Rs 22 and Rs 25.30. However, a decisive break below Rs 14.30 would weaken the bullish view, he cautioned.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "A sustained move beyond Rs 20 is likely to trigger a fresh move in the counter. On the other hand, the Rs 17.50-16.50 range is likely to cushion any shortcomings, with strong support at Rs 14.30. It is advisable to trail profits with a strict stop loss in the counter till momentum persists."

Kunal Kamble, Senior Technical Research Analyst at Bonanza, said immediate resistance is seen at Rs 24 and strong support lies at Rs 14.40. "The trend remains positive. A sustained move above Rs 24 could open further upside, while Rs 14.40 will act as key support. Fresh entries can be considered on dips with strict stop-losses," Kamble added.

As of April 29, 2025, promoters held a 39.80 per cent stake in the company, marking a decline of 0.18 per cent from the March 2025 quarter.