PC Jeweller To Mull Fundraising Plan, Board Meeting On July 10; Shares Tank 10%

Stock exchanges have been notified by PC Jeweller Ltd. that the company's Board of Directors will meet on Thursday, July 10, 2025, to discuss and approve the issuance of securities through preferential allotment in order to raise funds, subject to the issue price being determined and the necessary shareholder, regulatory, statutory, and other applicable approvals being received.

Following the news, PC Jeweller's stock began at Rs 18.67 per share on Tuesday, July 8, and fell to an intraday low of Rs 16.83 in the afternoon, indicating a 10% sell-off. According to NSE statistics, the stock had risen more than 35% over the last five sessions before there was significant sell-off pressure today.

"Further, in continuation to our earlier letter dated June 26, 2025 regarding 'Notice of Trading Window Closure', this is to inform that Trading Window for trading / dealing in the shares of the Company shall continue to remain closed till the expiry of 2 days from the date of declaration of un-audited financial results of the Company for the quarter ended June 30, 2025 or declaration of the outcome of this Board Meeting, whichever is later," said PC Jeweller in a stock exchange filing on Monday.

The company released its business update for the quarter that ended on June 30, 2025, last week. In spite of the fluctuations in gold prices, the company managed to grow its standalone revenue by around 80% when compared to the same quarter of the prior fiscal year.

"The recently concluded quarter has been very promising and fulfilling one for the Company. The Company closed this quarter on a very strong note clocking robust performance riding on its customer's trust and goodwill," PC Jeweller confirmed in a regulatory filing.

"Further, the Company had already reduced its outstanding debts towards its bankers by more than 50% during FY 2024-25. The Company is targeting and is confident of discharging its complete obligations due towards its bankers by the end of FY 2026 and thereby become debt free. For achieving its target, the Company has further reduced its outstanding debts towards its bankers by another approximately 7.50% during the quarter," PC Jeweller said in a regulatory filing.

Across the majority of indicators, PC Jeweller is showing a bullish technical setting. According to investing.com, as of July 8, the MACD is positive (~0.82), supporting upward momentum, while the RSI (14) is close to ~61, indicating moderate bullish momentum. Price movements might be sharp, as shown by the ATR (~0.71) and the ADX at ~50, which both show a strong trend. The optimistic outlook is also supported by moving averages: according to a research by investing.com, 11 out of 12 daily MAs (MA5 through MA200) are indicating buy signals.