Shares of PC Jeweller Limited, ended 5.05% lower on Wednesday, October 28, as the jewellery stock extended its loss for the fifth consecutive trading session. With this, the penny stock has declined nearly 14% over the past one week. The steep correction in the stock has come after a 66.9% rally in six months.
What changed for PC Jeweller stock?
The sharp decline in PC Jeweller stock is part of a profit booking of the jewellery stock after its stupendous rally over the past few weeks. The recent downtrend in the stock came after the stock surged to its 52-week high levels last week.
The decline has come against the backdrop of healthy second quarter earnings announced by PC Jewellers earlier, which makes it more of technical correction rather than a fundamental business issue.
PC Jeweller Q2 result
Last week, PC Jeweller reported a 58% annual jump in its consolidated net profit to ₹330.66 crore for the second quarter of financial year 2026-27. The double digit growth in profit was driven by higher sales. The company had reported a net profit of ₹209.54 crore during July-September quarter of the previous year.
PC Jeweller’s revenue from operations surged by 28% on an annual basis to ₹1,054.47 crore for the second quarter of this fiscal from ₹825.25 crore a year ago. Despite the surge in income, the company’s expenses remained higher at ₹759.42 crore as against ₹688.85 crore a year ago.
The Delhi-headquartered jewellery maker expects its net profit to have a positive impact as it expects its interest costs to reduce significantly from the second half of financial year 2026-27. As per PC Jeweller’s BSE filing, the company received remittances of about ₹142 crore from export debtors during the quarter under review.
PC Jeweller share price trend
The stock closed 5.05% lower at ₹15.81 per share on BSE with a market capitalisation of ₹15,418.13 crore on Wednesday, October 28. Its share price value has declined 14.59% in one week.
Apart from this, its share price value has surged 9.26% in two weeks, 16.94% in one month, 71.29% in three months and around 66.95% in six months. The jewellery stock has delivered 37% in one year and around 420% in three years.