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PC Jeweller Shares Extend Losing Streak After Strong Rally
PC Jeweller shares fell on Thursday after rising strongly in recent years.
The stock was down almost 2% in morning trading.
The company reported higher revenue and profit for FY26 than the previous year.
It also said it has finished repaying its banking debt.
This could reduce the interest it must pay in the future.
PC Jeweller wants to open as many as 100 new showrooms.
It also plans a cheaper, lightweight jewellery brand for young customers.
However, an analyst warned that the recent share-price rise may lead to profit-taking or a period of sideways movement.
PC Jeweller shares fell nearly 2% in morning trading on 1 October, potentially extending their losing streak to six sessions.
The company reported consolidated FY26 revenue of ₹3,353 crore and net profit of ₹722 crore, up from the previous year.
PC Jeweller said it has no outstanding banking debt after paying approximately ₹175 crore in interest during its repayment period.
The company plans up to 100 new owned and franchised showrooms in tier 4 and smaller cities over the next 12 to 18 months.
Technical analyst Jigar S. Patel cited a double-top pattern and bearish RSI divergence, identifying ₹15 as resistance and ₹12 as support.
- Who
- PC Jeweller and its shareholders; equity technical analyst Jigar S. Patel also provided a market view.
- What
- PC Jeweller shares declined nearly 2% and were set to extend a six-session losing streak, despite the company reporting stronger FY26 financial results and debt repayment.
- Where
- The shares traded on the BSE.
- When
- The share decline was reported on Thursday, 1 October; the company held its 21st Annual General Meeting on Wednesday, 30 September 2026.
- Why
- The stock showed technical signs of weakening after a sharp rise, while analysts also cited possible consolidation or profit-booking; the company’s financial results and debt repayment were positive factors.
Positive outlook
Cautious outlook
Financial performance and debt
Positive outlook
PC Jeweller reported higher FY26 revenue and net profit and said eliminating banking debt should reduce future financing costs and support its bottom line.
Cautious outlook
The positive financial results may not outweigh concerns that the share price has risen sharply and that its valuation has increased.
Growth strategy
Positive outlook
The planned expansion of up to 100 showrooms and launch of a budget-friendly, lightweight jewellery brand could help the company reach rural, semi-urban and younger customers.
Cautious outlook
The article does not establish whether these expansion plans will translate into improved shareholder returns.
Near-term share outlook
Positive outlook
A sustained move above ₹15 could negate the cautious technical setup and potentially lead to further upward momentum.
Cautious outlook
Patel identified a double-top pattern and bearish RSI divergence, advised existing holders to consider partial profit-taking, and recommended avoiding fresh long positions until a clear breakout.
Key facts
- Morning share price
- ₹13 around 9:55 a.m., down 1.6%; the intraday low was ₹12.95.
- FY26 revenue
- Consolidated revenue from operations was ₹3,353 crore, compared with ₹2,245 crore in FY25.
- FY26 net profit
- Consolidated net profit was ₹722 crore, compared with ₹577 crore in FY25.
- Debt position
- PC Jeweller said it had no banking debt outstanding after paying approximately ₹175 crore in interest during the repayment period.
- Expansion plan
- The company plans to establish up to 100 owned and franchised showrooms within 12 to 18 months.
- Share performance
- The stock gained nearly 400% over three years and nearly 60% over six months.
- Technical levels
- Analyst Jigar S. Patel identified ₹15 as immediate resistance and ₹12 as a major support zone.
Quotes
Jigar S. Patel
Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers
“Traders who are already holding the stock may consider locking in partial profits, while fresh long positions should be avoided until a clear breakout is witnessed. The immediate resistance is placed near ₹15, which remains the key level to watch on the upside. A decisive and sustained move above ₹15 could negate the current cautious setup and trigger further upside momentum.”
livemint.com
“On the downside, ₹12 acts as the major support zone. A break below this level could further weaken the structure. Until ₹15 is decisively taken out, a cautious approach is advisable, with focus on protecting existing profits.”
livemint.com
Sources
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