Multibagger stock PC Jeweller share price drops 5% after 16% rally in 4 sessions: Here's why - Should investors worry?
Jewellery stock PC Jeweller declined 5% on Tuesday, October 13, as investors booked profits after four consecutive sessions of gains. The latest decline snapped the stock's winning streak, during which it had rallied 16% over four sessions between October 7 and October 12.
The stock fell as much as 5% to an intraday low of ₹14.26 per share on the BSE. The decline came a day after PC Jeweller touched its 52-week high of ₹15.50 on Monday, October 12. While profit booking weighed on shares on Tuesday, the stock remained substantially above its March 2026 low of ₹7.45.
Despite Tuesday's pullback, PC Jeweller continued to post strong returns across multiple time frames, reflecting the stock's significant gains over the past few months.
The stock has risen 11% over the past week and gained 4.5% in one month. Its gains stood at 44.5% over three months and 56.5% over six months. Over the past year, PC Jeweller advanced 15%. The jewellery stock has delivered multibagger returns over the longer term, surging 399% in five years.
The latest decline followed a sharp rally that took the stock to a fresh 52-week high in the previous session. The rise came after the company announced that all mortgaged assets, securities and guarantees provided by it and its personal and corporate guarantors have been released following the clearance of outstanding debt.
PC Jeweller shares are in focus after a sharp rally followed by profit booking. Technical analysts see key support and upside targets emerging as the stock's price trend remains positive.
According to Mayank Jain, Market Analyst at Share.Market by PhonePe, “From a technical perspective on the daily chart, the stock has transitioned into a constructive recovery phase, establishing a clear higher-high and higher-low price pattern.”
The stock was trading above its 20-day, 50-day and 200-day simple moving averages (SMAs) at 13.49, 11.89 and 10.02, respectively, indicating a bullish alignment across timeframes. Jain identified ₹15.50-16 as immediate resistance, with a decisive breakout potentially opening the way towards ₹18-19, a major historical peak zone.
He said, “On the downside, dynamic structural support rests at the 20-day Simple Moving Average around 13.49, followed by deeper secondary support at the 50-day SMA near 11.89.”
After the sharp rally, investors could watch for pullbacks towards these moving averages to assess the stability of the recovery trend.
In an exchange filing dated October 8, 2026, PC Jeweller said all mortgaged assets had been released and the original title deeds handed over to the relevant title holders. The company also confirmed that all charges, securities, personal and corporate guarantees, and undertakings had been fully released.
The company said the latest development followed its earlier announcement regarding the receipt of no-objection, no-dues and release letters from all 14 banks in its consortium.
"In continuation to our earlier intimation regarding receipt of No Objection cum No Dues cum Release Letter from all the 14 banks of consortium, we are pleased to inform that all the mortgaged assets of the Company, the personal and corporate guarantors have been released and the original title deeds have been handed over to the relevant title holders," it said in an exchange filing.
With the release of the mortgaged assets and related securities, PC Jeweller confirmed that all necessary formalities concerning the clearance of its outstanding debt had been completed.
"Further, all the charges, securities, guarantees (personal as well as corporate) and undertakings provided by the Company and the personal and corporate guarantors also stand fully released now," it added.
However, the exchange filing did not disclose the amount of debt cleared or provide details of any immediate impact on the company's earnings. It also did not announce any fresh financial guidance.
In a recent filing, PC Jeweller reported approximately 28% year-on-year revenue growth in Q2 FY27 and confirmed that it had achieved debt-free status after repaying all outstanding bank borrowings. The jewellery retailer also received ₹142 crore in export receivables and completed a ₹500 crore fundraise through a preferential issue of equity shares and warrants.
In its October 7 business update, the company attributed its performance to healthy consumer demand. It said negotiations with export debtors had yielded positive results, with recovery of outstanding receivables commencing during the September quarter.
The company disclosed these developments in its business update for the quarter ended September 30, 2026, submitted to the stock exchanges on October 7.
PC Jeweller said healthy consumer demand supported its performance during the second quarter of the financial year 2026-27. Its consolidated revenue grew approximately 28% year-on-year, reflecting what the company described as strong business momentum.
PC Jeweller said it had been making efforts to resolve the issue of outstanding export receivables through negotiations. These efforts had yielded positive results, with the company stating that the issue with its export debtors had been resolved and recovery of the outstanding amounts had commenced with the latest remittance.
PC Jeweller also confirmed the successful completion of its fundraise of up to ₹500 crore through a preferential issue of equity shares and warrants. The fundraising process was completed on September 24, 2026, following the conversion of all warrants allotted to promoter Balram Garg, the company said.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
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HomeMarketsStock MarketsMultibagger stock PC Jeweller share price drops 5% after 16% rally in 4 sessions: Here's why - Should investors worry?
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