PC Jeweller share price surges 15% today - jumps 35% in 1 month - rally reason explained

PC Jeweller share price surged 15% in intraday deals on the BSE on Monday, 7 September, defying weak stock market sentiment. PC Jeweller shares opened at ₹12.12 against their previous close of ₹11.90 and jumped 14.7% to an intraday high of ₹13.65, looking set to extend gains for the third consecutive session.

PC Jeweller share price trend

PC Jeweller shares have been on a strong uptrend of late. The jewellery stock has surged over 35% in the last 1 month, while year-to-date, it has gained 43%.

The stock hit a 52-week low of ₹7.45 on 30 March this year after hitting a 52-week high of ₹15.38 on 17 September last year.

On a monthly scale, it has been in the green since July this year.

Why is PC Jeweller stock rising?

The recent uptrend in the stock could be attributed to the company's announcement about its move towards debt-free status.

In an exchange filing on 3 September, PC Jeweller announced it had 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 9 out of the 14 consortium banks, with all repayments completed ahead of scheduled due dates. Further, the company has discharged more than 96% of the outstanding debt of the remaining 5 banks as well," said PC Jeweller.

"The company remains firmly on track to discharge the remaining less than 4% of the outstanding debt of the remaining 5 banks and achieve a debt-free status in the current month itself, which will materially strengthen its balance sheet and financial position," PC Jeweller said.

PC Jeweller's financial performance

To recall, PC Jeweller showcased robust operational performance in Q1FY27, riding on improved customer demand and footfall.

Its consolidated revenues increased by approximately 21% year-on- year to ₹877 crore during the quarter, while gross profit surged by 81% YoY to ₹260 crore.

In July 2026, the board approved raising up to ₹1,000 crore through a qualified institutional placement (QIP), subject to requisite approvals. The proposed fundraising will primarily be used to support future growth opportunities, strengthen financial flexibility, and enhance the Company's ability to scale its operations, according to the company's exchange filing.

PC Jeweller: What do tech charts indicate?

According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, PC Jeweller has shown a strong bullish breakout on the weekly chart, with the stock rising to ₹13.33 and gaining 12.39% in the latest session.

Price is trading well above the 55, 89, 100 and 200-week EMAs, indicating a positive long-term trend. The DMI shows +DI at 38.35, comfortably above -DI at 11.44, confirming strong buying momentum. ADX at 21.65 suggests the trend is strengthening.

However, RSI at 71.53 and Stochastic at 89.19 indicate overbought conditions, so some consolidation or profit-booking cannot be ruled out.

"Immediate support is placed at ₹10.40– ₹10.45, near the weekly EMA cluster. A deeper support zone is around ₹9.40. Resistance is at ₹13.60– ₹14.00, followed by ₹15.00. Sustaining above ₹13.60 could open the way for further upside, while a close below ₹10.40 would weaken the bullish setup," said Patel.

Vipin Kumar, AVP-Research at Globe Capital Market, said PC Jeweller witnessed a sharp price surge following a bullish breakout on Friday, 4 September 2026, breaching an eight-month consolidation zone accompanied by significant volume expansion.

"The stock's current chart setup points toward sustained momentum, with initial upside targets at ₹15.50 followed by ₹18.50 in the near term. Momentum indicators and moving average alignments further support this bullish trajectory. Traders can look to accumulate fresh positions on dips around the ₹11.50– ₹12 spot levels," said Kumar.

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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.