PC Jeweller shares hit 52-week high; stock gains 48% in 3 months: Is more steam left?

Shares of PC Jeweller Ltd extended their gains for the fourth consecutive session on Friday, surging 7.41 per cent to hit a 52-week high of Rs 14.94. The stock was last seen trading 4.67 per cent higher at Rs 14.56. At this level, it has rallied 48.17 per cent over the past three months.

The stock, however, remains under the short-term Additional Surveillance Measure (ASM) framework on both BSE and NSE. Exchanges place stocks under short-term or long-term ASM frameworks to alert investors to potential risks associated with high volatility in share prices.

The jeweller retailer recently informed the stock exchanges that all mortgaged assets of the company, its personal guarantors and corporate guarantors have been released, with the original title deeds handed over to the respective holders.

"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. 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," PC Jeweller stated.

"With this, all the necessary formalities with respect to the clearance of outstanding debt stands closed," it added.

What analysts say

From a technical standpoint, a few analysts have maintained a broadly positive near-term view on the stock.

Osho Krishan, Chief Manager – Technical & Derivative Research at Angel One, said, "PC Jeweller has demonstrated robust momentum over the past three months, decisively surpassing its 200-DSMA after a prolonged corrective phase. On the downside, the Rs 13-12.50 range should offer support during near-term pullbacks. Conversely, continued momentum may position the stock to revisit Rs 17 sub-level in forthcoming sessions, provided broader market conditions remain favourable and buying interest remains adequately supportive."

Virat Jagad, Senior Technical Research Analyst at Bonanza, noted, "The stock has shown a strong breakout from prolonged consolidation, with price sustaining above all major EMAs and improving volume indicating fresh buying interest. RSI remains elevated, reflecting strong momentum, though some profit booking is possible. Sustaining above Rs 14.50 can support further upside."

According to AR Ramachandran, Sebi-registered research analyst at Tips2trades, "PC Jeweller stock price is bullish on daily charts but faces strong resistance at Rs 14.86. A daily close above this resistance could lead to an upside target of Rs 16.2 in the near term. Immediate support will be at Rs 13.9."