PC Jeweller stock defies market gloom, rises 90% in 2026: Can it hit ₹27 after breaking ₹20 resistance? Expert view
A Ksheerasagar
Shareholders of PC Jeweller seem to have reason to rejoice, given the stock’s solid performance in 2026 despite broader market weakness amid rising geopolitical tensions. Although the stock began the year on a tumultuous note, it picked up steam in the second half and has continued to hit multi-month highs since then, supported by a series of positive developments.
During Thursday’s trade, the stock touched a fresh one-year high of ₹20.10 apiece, a day after the company announced its September-quarter performance. So far this month, the stock has gained 36% and is on track to extend its winning streak to a fourth consecutive month.
The rally has also taken its year-to-date gains to 90%, marking a stark turnaround from a 40% plunge in 2025.
Even after the bumper rally, analysts expect the rally in PC Jeweller to extend, with the stock potentially reaching ₹27, citing a favourable technical setup.
According to Sachin Gupta, VP – Technical Research at Choice Broking, PC Jeweller is showing signs of a potential bullish breakout on the monthly chart, backed by a sharp rise in price and trading volumes. After a prolonged consolidation phase, the stock has moved back towards a crucial resistance zone of ₹19– ₹20, marked by a long-term trendline connecting previous highs.
Gupta said the monthly Relative Strength Index (RSI) has improved to around 69, indicating strong buying momentum. A sustained breakout above ₹20, supported by strong volumes, could signal further upside.
On the weekly chart, the stock has surged 17.22% to trade at ₹19.50, accompanied by a sharp increase in volumes. It is trading well above its 50-week Exponential Moving Average (EMA) at ₹11.37 and 200-week EMA at ₹9.74, reflecting a significant improvement in its long-term trend.
However, Gupta noted that the weekly RSI at 77.09 indicates overbought conditions, so some profit-booking cannot be ruled out near current levels.
Gupta pointed out that a decisive breakout above ₹20 could open the way towards ₹23 and ₹27, while ₹17 and ₹15.50 are likely to act as immediate support levels.
PC Jeweller posted a 58% jump in net profit to ₹331 for the September quarter crore from ₹210 crore in the same period last year. Its consolidated revenue from operations surged 28% to ₹1,054 crore from ₹825 crore in the year-ago quarter, driven by continued consumer demand during the festive and wedding season.
At the operating level, the company’s EBITDA stood at ₹309 crore, up from ₹178 crore a year earlier, while its EBITDA margin improved to 29.3% from 21.5% in the year-ago quarter, reflecting improved operational efficiency and robust sales growth, according to the company’s Q2 earnings filing.
During the quarter, the company s achieved debt-free status after repaying its outstanding dues to all 14 consortium banks ahead of schedule.
Meanwhile, the company plans to open up to 100 large-format showrooms across Tier I, Tier II and Tier III cities over the next 12–18 months, through a mix of company-owned outlets and an asset-light franchise model.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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