1 day ago
PC Jeweller Hits 52-Week High as Debt Formalities Close
PC Jeweller’s share price has risen a lot over the past three months and reached a one-year high.
The company said its lenders have released the assets and guarantees that had been pledged for its debt.
It also said the original ownership papers were returned to the relevant holders.
The company described the debt-clearance formalities as complete.
Some analysts think the share price could rise further if buyers remain interested.
They also identified price levels that could act as support or resistance.
One analyst cautioned that some investors may sell shares to lock in profits.
These views depend partly on how the wider market performs.
PC Jeweller shares gained 48% over three months and reached a 52-week high.
The company said all mortgaged assets and related securities and guarantees have been released.
Original title deeds were returned to the relevant holders after no-dues and release letters from 14 consortium banks.
Angel One analyst Osho Krishan identified support at Rs 12.50–13 and said the stock could revisit Rs 17 if momentum continues.
Other analysts cited momentum and possible upside, while noting resistance near Rs 14.86 and the possibility of profit booking.
- Who
- PC Jeweller and analysts from Angel One, Bonanza and Tips2trades.
- What
- PC Jeweller shares reached a 52-week high after rising 48% in three months; the company reported the release of mortgaged assets and related securities and guarantees.
- Where
- The update was made to stock exchanges; the article does not specify a location.
- When
- The share gain is reported over the past three months; the company did not specify the date of the release in the article.
- Why
- The company said formalities related to clearance of outstanding debt were complete; analysts also pointed to strong momentum and buying interest.
Further upside
Risks and resistance
Near-term share outlook
Further upside
Angel One and Bonanza analysts described strong momentum, a breakout and buying interest; they cited potential further gains if support holds.
Risks and resistance
Bonanza noted that the elevated RSI could be followed by profit booking, while Tips2trades identified strong resistance at Rs 14.86.
Conditions for gains
Further upside
Angel One said a move toward Rs 17 could be possible if momentum and buying interest continue.
Risks and resistance
Angel One conditioned that outlook on favourable broader market conditions; Tips2trades said a daily close above Rs 14.86 would be needed for its Rs 16.2 near-term target.
Key facts
- Share gain
- 48% over three months
- Share milestone
- Reached a 52-week high
- Lender consortium
- 14 banks
- Company-reported update
- Mortgaged assets, charges, securities, guarantees and undertakings were released; original title deeds were handed to relevant holders.
- Angel One support range
- Rs 12.50–13
- Potential level cited by Angel One
- Rs 17, subject to market conditions and continued buying interest
- Tips2trades resistance and target
- Resistance at Rs 14.86; a daily close above it could point to Rs 16.2, with support at Rs 13.9
Quotes
AR Ramachandran
Sebi-registered research analyst at Tips2trades
“PC Jeweller has demonstrated robust momentum over the past three months, decisively surpassing its 200-DSMA after a prolonged corrective phase. On the downside, the Rs 13-12.50 range should offer support during near-term pullbacks. Conversely, continued momentum may position the stock to revisit Rs 17 sub-level in forthcoming sessions, provided broader market conditions remain favourable and buying interest remains adequately supportive.”
businesstoday.in
“The stock has shown a strong breakout from prolonged consolidation, with price sustaining above all major EMAs and improving volume indicating fresh buying interest. RSI remains elevated, reflecting strong momentum, though some profit booking is possible. Sustaining above Rs 14.50 can support further upside.”
businesstoday.in
Sources
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