PC Jeweller Shares up 23% in One Month – All You Need to Know

Shares of PC Jewellery were trading in green today, extending consecutive gains for the third-straight days in a row. The stock was last seen trading at ₹15.13, up 0.13%. The stock has risen over 22.81% in the last one month. The company is set to release its quarterly numbers on August 1.

The Delhi-based jeweller is set to raise ₹500 crore in equity from its promoter and Capital Ventures Pvt Ltd. The funds will be utilised to repay prepay existing loans, as the company is aiming to become debt-free by the end of the current fiscal year.

As per analysts, investors with only a high-risk appetite should consider this counter. However, others warned of near-term selling pressure following the recent sharp rally.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities said that PC Jeweller is a speculative stock and investors with a high-risk appetite should consider it.

Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One, said, “PC Jeweller has experienced a phase of profit booking following a significant rally observed in early July. The stock is supported by the 200-day simple moving average, which is positioned in the range of Rs 14.50 to 14. Any further blip is likely to disrupt the technical outlook and might plunge towards 12.50-12. Conversely, immediate resistance is identified in the 16.50-17 zone.”

Drumil Vithlani, Technical Research Analyst at Bonanza, observed, “Any bounce in the counter is likely to face selling pressure. If holding a position, consider trimming or exiting on further weakness. Avoid adding at current levels and only a strong reversal with volume reclaiming Rs 15.75-plus levels would negate this bearish setup.”

PC Jeweller shares ended at ₹15.19, up 0.46%.