Multibagger stock: PC Jeweller shares jump 5% after surging 40% in 2 weeks | Q2 beat, bulk deal in focus | Key levels

PC Jeweller shares jumped nearly 5% on Wednesday, 21 October, amid a broadly positive trend in the Indian stock market. The stock has rallied around 40% over the past two weeks, supported by strong buying momentum following the company’s Q2 FY27 results and renewed investor interest after reports of a bulk deal involving Aditya Kumar Halwasiya, who is associated with Cupid Ltd.

The stock’s gains have extended beyond the recent rally. PC Jeweller shares have surged 27.44% in one week, 40.23% in two weeks and 44.18% over one month. The stock has gained 83.30% over three months, 92.08% over six months, and 98.07% year-to-date, according to the BSE data.

However, technical analysts caution that the sharp rally has pushed the stock into overbought territory, with key resistance levels around ₹19– ₹20 likely to determine its next move.

Investor attention has also turned to a reported bulk deal on 16 October, in which Aditya Kumar Halwasiya, associated with Cupid Ltd, purchased 5.10 crore PC Jeweller shares worth approximately ₹73.59 crore at an average price of ₹14.43 per share.

The transaction has drawn attention amid the jewellery retailer’s ongoing financial turnaround. However, the bulk deal alone does not establish the investor’s long-term intentions or explain the stock’s subsequent price movement.

The company’s Q2 FY27 performance has provided another focus for investors. PC Jeweller reported a 28% year-on-year increase in consolidated revenue for the July–September quarter, citing healthy consumer demand.

The company also said it received remittances of ₹142 crore during the quarter from outstanding export debtors.

In September, PC Jeweller announced that it had cleared its dues to all 14 consortium banks, effectively becoming debt-free after addressing borrowings that had amounted to around ₹3,000 crore. The company had opted for a one-time settlement (OTS) of its outstanding bank dues in September 2024.

The progress on debt reduction and the latest revenue growth have added to the market’s focus on the company’s recovery, although sustaining business growth and profitability will remain important for its longer-term outlook.

Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said PC Jeweller had witnessed a sharp, near-vertical upmove over the past three trading sessions, indicating a strong uptrend.

However, he cautioned against initiating fresh long positions at current levels because of overbought conditions. Investors could consider a buy-on-dips strategy, with support around ₹17 and the next resistance at ₹20, Bhosale said.

Hitesh Tailor, Technical Research Analyst at Choice Broking, said PC Jeweller had staged a strong structural recovery on the weekly chart after a prolonged accumulation phase near its 200-week moving average of ₹9.73.

The stock broke out of an intermediate consolidation range around ₹14.30 and rallied sharply to trade near ₹18.46, Tailor said. However, it is now approaching a major multi-year resistance zone between ₹19 and ₹19.65, where selling pressure had previously triggered sharp pullbacks.

Tailor noted that the weekly Relative Strength Index (RSI) had crossed 76, entering overbought territory. While this signals strong momentum, it also raises the possibility of near-term profit-booking or sideways consolidation.

Immediate support is placed around ₹17, while the stronger structural support lies near ₹14.30, the previous breakout level. The near-term outlook remains sideways to bullish, with a decisive weekly close above ₹19.65 needed to signal the next leg of the upmove, he said.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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