​PC Jeweller share price declines 3% despite the firm announcing achieving a debt-free status; details here

PC Jeweller share price declined 3% in intraday deals on Thursday, 16 July, largely due to profit booking, a day after jumping more than 7%, even as the company announced achieving a debt-free status.

PC Jeweller shares opened at ₹10.72 against their previous close of ₹10.58 and declined 3% to their intraday low of ₹10.27 in an otherwise positive market.

The stock witnessed profit booking as its board is meeting today to approve a fundraising proposal through a Qualified Institutions Placement (QIP).

The company's board of directors will meet on Thursday to consider a proposal to raise funds through a qualified institutions placement (QIP) as part of the company's strategy to accelerate business growth and capitalise on future opportunities.

Meanwhile, in an exchange filing after market hours on 15 July, PC Jeweller said it has successfully cleared and repaid all its outstanding debt under the terms of the settlement agreement dated 30 September 2024 with respect to one more bank.

With this successful clearance of debt, the company has now repaid all the outstanding debt of 4 out of the 14 consortium banks, said PC Jeweller.

"The company would like to further inform that the outstanding debts of all the 4 banks have been prepaid and discharged well before the scheduled due date of their repayment," said the jewellery company.

PC Jeweller share price trend

As per BSE data, PC Jeweller shares have delivered multibagger returns of 204% over the last three years and have surged 275% over the last five years.

The stock, however, has been under pressure in the recent past. Over the last year, it has declined 40%, hitting a 52-week low of ₹7.45 on 30 March this year and a 52-week high of ₹18 on 17 July last year.

PC Jeweller shares tech view

Vipin Kumar, AVP- Research at Globe Capital Market, pointed out that following a sharp decline from ₹19.50 to ₹7.50 in a short time span of less than a year, PC Jewellers is showing signs of accumulation, backed by heavy delivery volumes in the second half of June.

The 20-day EMA have crossed above its 50-day EMA on July 3rd, 2026, showing another sign of price recovery. At the current juncture, the stock is trading on the verge of a fresh breakout from its seven-month-long consolidation range of ₹7.50 to ₹11.40. Going ahead, a decisive close above ₹11.40 could lead it towards the ₹15 to ₹16 levels in the near term," said Kumar.

Aditya Thukral, Founder and Analyst of AT Research and Risk Managers, highlighted that the PC Jeweller share price has been in a short-term uptrend with the formation of higher highs and higher lows, and the stock is trading below the previous swing low of ₹11.22 and has been an important level during the previous downtrend.

At the same time, the higher low of ₹8.47 remains the key support level for the existing buyers in the stock.

Despite the short-term uptrend, the stock has not been able to cross this level. However, the stability in prices after a downtrend, accumulation and price starting to sustain above key moving averages are the signs of the emergence of a fresh trending move in the stock, said Thukral.

"As there are encouraging signs for the bulls to take charge and create a fresh uptrend in the stock, investors should still consider buying this stock either on dips or on the breakout above ₹11.22 with the stop losses below ₹8.47," said Thukral.

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