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Time of India
2 hours ago
- Time of India
PC Jeweller shares drop 8% as exchanges place stock under surveillance after sharp rally
Shares of PC Jeweller fell as much as 8.1% on Tuesday to Rs 17.20 on BSE after both BSE and NSE placed the stock under the short-term Additional Surveillance Measure (ASM) framework. The decline comes after a sharp rally in recent sessions. On Monday, the stock had surged 11.8%, extending a two-day gain of up to 33% to a high of Rs 18.69, driven by the company's strong business update for the June quarter (Q1FY26). In a filing last week, PC Jeweller reported that its standalone revenue for Q1FY26 rose approximately 80% compared to the same period last year. The company described the quarter as 'very promising and fulfilling,' attributing the performance to continued customer trust and goodwill. Despite volatility in gold prices, the jeweller cited strong sales traction during the wedding and festive season as a key driver of top-line growth. The company also highlighted progress on deleveraging efforts, stating it had 'already reduced its outstanding debts to bankers by more than 50% during FY24–25.' In Q1FY26 alone, debt was lowered by another 7.5%. 'The company continues to revamp and strengthen all aspects of its operations, the results of which are visible in its financials,' the management said. It added that it remains optimistic about 'delivering exceptional performance in the upcoming quarters as well.' PC Jeweller reiterated its target of becoming debt-free by the end of FY26. Technical indicators signal overheating The recent rally has pushed the stock into overbought territory, with the Relative Strength Index (RSI) at 89.2 — well above the 80 mark that typically signals overheating and a potential pullback. However, momentum indicators remain broadly positive. The stock is trading above all eight of its key simple moving averages, from the 5-day to the 200-day, indicating underlying bullishness. The Moving Average Convergence Divergence (MACD) also remains above both the signal and center lines, with a reading of 0.9. PC Jeweller has delivered stellar returns across time frames. The stock is up 50.5% over the past month, 42% in three months, and 17% over the last six months. On a one-year basis, it has soared 249%. Also read | PC Jeweller surges 33% in 2 days after upbeat Q1 update ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 hours ago
- Time of India
Kevin Love reacts to stunning three-team NBA trade, says 'never thought I'd be a ...'
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Time of India
5 hours ago
- Time of India
Tyler Johnson, two-time Stanley Cup winner, announces retirement
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