PC Jeweller shares jump 9% after Q2 results, Aditya Kumar Halwasiya’s bulk deal in focus | What investors should know

PC Jeweller shares jumped nearly 9% on Thursday, 22 October, following the company's strong Q2 FY27 results and amid investor attention on bulk deal transactions in the stock.

PC Jeweller Ltd reported a 58% year-on-year jump in consolidated net profit to ₹330.66 crore for the September quarter of FY27, supported by higher sales. The company had posted a net profit of ₹209.54 crore in the corresponding quarter last year.

Total income rose 28% year-on-year to ₹1,054.47 crore in Q2 FY27 from ₹825.25 crore a year earlier, according to the company's regulatory filing. Total expenses increased to ₹759.42 crore from ₹688.85 crore in the year-ago period.

A key milestone during the quarter was the company's return to debt-free status after it repaid outstanding dues to all 14 consortium banks ahead of schedule. PC Jeweller said the resulting reduction in interest costs, expected to become more significant from the second half of FY27, should support its profitability.

The company also received around ₹142 crore in remittances from export debtors during the quarter following negotiations and resolution of outstanding issues. The receipts mark the beginning of recovery of long-pending export receivables, it said.

Looking ahead, PC Jeweller plans to roll out up to 100 large-format showrooms across Tier I, Tier II and Tier III cities over the next 12–18 months. The expansion will combine company-owned outlets with an asset-light franchise model.

Bulk deals in PC Jeweller on 21 October saw Chairman and Managing Director of Cupid, Aditya Kumar Halwasiya, purchase 5.51 crore shares at ₹18.39 apiece, amounting to approximately ₹101.33 crore, as per NSE data.

HRTI Private Limited bought 7.37 crore shares at ₹18.44 per share, worth around ₹135.99 crore, while selling 8.76 crore shares at ₹18.36 apiece for ₹160.81 crore. Meanwhile, Jump Trading Financial India Private Limited purchased 15.34 crore shares at ₹18.36 each, valued at approximately ₹281.57 crore, and sold 15.90 crore shares at ₹18.38 each, valued at approximately ₹292.31 crore.

Investor attention has also focused on a bulk deal on 16 October, when Aditya Kumar Halwasiya, associated with Cupid Ltd, reportedly purchased 5.10 crore shares of PC Jeweller for approximately ₹73.59 crore at an average price of ₹14.43 per share. The transaction comes amid the jewellery retailer’s ongoing financial turnaround.

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

The company’s progress on debt reduction, coupled with recent revenue growth, has kept its recovery in focus. However, sustaining business growth and improving profitability will be key to determining whether the turnaround can be maintained over the longer term.

PC Jeweller share price today opened at 19.81 apiece on the BSE, the stock touched an intraday high of ₹20.17 per share, and an intraday low of ₹18.82 per share.

Gaurav Arora, Head of Research at SAHI, said PC Jeweller has broken out of a broadening pattern, also known as a reverse symmetrical triangle, on the weekly chart and is now trading near its 52-week high. The breakout above the key resistance level of ₹18.80, supported by strong trading volumes, lends conviction to the bullish momentum.

Arora noted that sustaining levels above ₹18.80 will be crucial for the stock to extend its upward move. While the Relative Strength Index (RSI) is showing early signs of overbought conditions, warranting some near-term caution, the broader technical structure remains bullish as long as the stock holds above this level.

Sachin Gupta, VP – Technical Research at Choice Broking, said PC Jeweller is showing signs of a potential bullish breakout on the monthly chart, supported by a sharp rise in prices and trading volumes. After an extended consolidation phase, the stock has moved towards a crucial resistance zone of ₹19– ₹20, marked by a long-term trendline connecting previous highs.

Gupta noted that the monthly Relative Strength Index (RSI) has improved to around 69, indicating strong buying momentum. A sustained breakout above ₹20, backed by robust volumes, could signal further upside.

On the weekly chart, PC Jeweller has surged 17.22% to ₹19.50, accompanied by a sharp increase in trading volumes. The stock is trading well above its 50-week exponential moving average (EMA) of ₹11.37 and 200-week EMA of ₹9.74, reflecting a significant improvement in its long-term trend.

However, Gupta cautioned that the weekly RSI of 77.09 indicates overbought conditions, raising the possibility of some profit-booking near current levels.

A decisive breakout above ₹20 could open the way for further upside towards ₹23 and ₹27, while ₹17 and ₹15.50 are likely to act as immediate support levels, he added.

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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HomeMarketsStock MarketsPC Jeweller shares jump 9% after Q2 results, Aditya Kumar Halwasiya’s bulk deal in focus | What investors should know

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