Archive · 24 Sep 2026
PC Jeweller Shares Pause After Rally Amid Resistance
PC Jeweller shares rose strongly for four trading sessions before falling on September 24.
The drop happened after the stock reached its highest price in a year.
The wider Indian stock market also declined that day.
Higher crude oil prices and US bond yields worried investors.
An analyst said the stock is still in an upward trend but faces resistance between ₹14.50 and ₹15.
If it moves clearly above ₹15, it could rise toward ₹16–17.
If it falls below the support level of ₹13.65, it could move sideways.
PC Jeweller is also close to becoming debt-free after repaying most of its bank debt.
PC Jeweller shares fell as much as 2.4% to ₹14.14 on September 24 after reaching a 52-week high of ₹14.87 the previous day.
The stock had gained more than 17% over four consecutive sessions and has risen 78% in six months.
Technical analyst Jigar S. Patel identified ₹14.50–15.00 as near-term resistance and ₹13.65 as key support.
PC Jeweller has repaid outstanding debt to 13 of its 14 consortium banks, discharging more than 99% of bank debt.
The company allotted 1.18 crore shares to promoter and Managing Director Balram Garg after converting fully convertible warrants.
- Who
- PC Jeweller, its promoter and Managing Director Balram Garg, and technical analyst Jigar S. Patel.
- What
- PC Jeweller shares declined after a strong rally, while the company reported further debt repayment and a promoter share allotment.
- When
- The share decline occurred on September 24, following a 52-week high on September 23.
- Where
- The shares traded on the BSE, amid weakness in the domestic equity market.
- Why
- Profit booking and broader market pressure weighed on the stock; investors were also watching resistance levels and the company's progress toward becoming debt-free.
Bullish View
Cautious View
Near-term share outlook
Bullish View
Jigar S. Patel said the stock continues to maintain its uptrend. A sustained daily close above ₹15 could trigger buying interest and potentially move the stock toward ₹16–17.
Cautious View
The ₹14.50–15.00 area is viewed as important resistance, and failure to sustain the ₹13.65 support level could lead to consolidation.
Company finances
Bullish View
PC Jeweller has repaid debt to 13 of 14 consortium banks, completed repayments ahead of schedule, and said it remains on track to become debt-free in the current month.
Cautious View
Less than 1% of outstanding bank debt remains, meaning the debt-free objective had not yet been fully completed at the time of the report.
Recent market performance
Bullish View
The stock gained 15% in one week, 28% in one month, 62% in three months, and 78% in six months.
Cautious View
The stock declined after reaching its 52-week high, and its one-year gain was comparatively modest at 7%, while the broader market also fell around 1%.
- September 24 low
- ₹14.14 per share, after a decline of as much as 2.4% on the BSE
- 52-week high
- ₹14.87, reached on September 23
- Six-month return
- 78%
- Four-session rally
- More than 17%
- Technical resistance
- ₹14.50–15.00
- Technical support
- ₹13.65
- Debt repayment
- Outstanding debt repaid to 13 of 14 consortium banks, covering more than 99% of bank debt
- Promoter allotment
- 1,18,52,500 shares allotted to Balram Garg at ₹18 per share