PC Jeweler’s share price fell 3% in intraday trading on Thursday, July 16, largely due to profit-taking, a day after jumping more than 7% even as the company announced it had reached debt-free status.
PC Jeweler shares opened at ₹10.72 against previous close ₹10.58 and fell 3% to an intraday low at ₹10.27 in an otherwise positive market.
The stock has witnessed profit-taking as its board of directors is set to approve a proposal to raise funds through a Qualified Institutional Placement (QIP) today.
The company’s board of directors will meet on Thursday to consider a proposal to raise funds through a qualified institutional placement (QIP) as part of the company’s strategy to accelerate business growth and seize future opportunities.
Meanwhile, in a stock exchange announcement after the market closed on July 15, PC Jeweler said it had successfully repaid and discharged all of its outstanding debt in accordance with the terms of a settlement agreement dated September 30, 2024, against another bank.
Also read | Should you buy HDB Financial shares after Q1 results?
With this successful debt repayment, the company has now cleared all outstanding debt of 4 of the 14 consortium banks, PC Jeweler reported.
“The company would like to further inform that the outstanding debts of all four banks were prepaid and settled well before their scheduled repayment dates,” the jewelry company said.
PC Jeweler stock price dynamics
PC Jeweler stock has delivered a multi-stage return of 204% over the last three years and has grown 275% over the past five years, according to BSE data.
However, the stock has been under pressure recently. It’s down 40% over the past year, hitting a 52-week low. ₹7.45 on March 30 this year and 52 week high ₹July 18 to 17 last year.
PC Jeweler shares technical opinion
Vipin Kumar, AVP of Research at Globe Capital Market, noted that after the sharp decline ₹from 19.50 to ₹7.50 in a short period of less than a year, PC Jewelers is showing signs of accumulation, supported by strong volumes of deliveries in the second half of June.
The 20-day EMA crossed its 50-day EMA on July 3, 2026, showing another sign of price recovery. The stock is currently trading on the verge of another breakout from a seven-month consolidation range. ₹from 7.50 to ₹11.40. Decisive close ahead ₹11.40 may lead him to ₹from 15 to ₹16 levels in the near future,” Kumar said.
Aditya Thukral, Founder and Analyst, AT Research and Risk Managers, highlighted that PC Jeweler’s share price is in a short-term uptrend with higher highs and higher lows being formed, with the stock trading below its previous swing low. ₹11.22 and was an important level during the previous downtrend.
At the same time a higher minimum ₹8.47 remains a key support level for existing stock buyers.
Despite the short-term uptrend, the stock failed to break through this level. However, price stability after a downtrend, prices accumulating and starting to sustain above key moving averages are signs of a new trend move emerging in stocks, Thukral said.
PC Jeweler Technical Card(Aditya Thukral, founder and analyst at AT Research and Risk Managers)
“As there are encouraging signs that the bulls will take charge and create a new uptrend in the stock, investors should still consider buying these stocks on either the dip or a breakout higher. ₹11.22 with stop losses below ₹8.47,” Thukral said.
Read all market news Here
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The opinions and recommendations expressed are those of the individual analysts or brokerage firms and not Mint. We advise investors to consult with certified experts before making any investment decisions as market conditions can change rapidly and circumstances may change.