PC Jeweller shares reached a one-year intraday high of ₹20.10 on the National Stock Exchange on Oct. 22, after the jewelry retailer reported a 57.8% year-over-year increase in consolidated net profit for its September quarter.
The company’s unaudited results showed consolidated net profit of ₹330.66 crore, compared with ₹209.54 crore a year earlier. Revenue from operations rose to ₹1,054.47 crore from ₹825.25 crore. The board approved the results on Oct. 21. EconoTimes covered the results and expansion plans in an earlier report.
The latest high extends a sharp advance. In an Oct. 19 report on the stock’s one-month gain, EconoTimes reported that shares had risen 42.53% over the preceding month. They reached ₹18.64 intraday that day and closed at ₹18.14.
The ₹20 level is also central to a technical view reported by Mint. The outlet quoted Sachin Gupta, Choice Broking’s vice president of technical research, as saying the stock would need to hold above ₹20 as trading volume strengthened before he would consider ₹23 and ₹27 possible levels.
Mint also reported a weekly relative strength index reading of 77.09 and Gupta’s view that profit-taking could occur near the then-current price. The outlet gave no time frame for the two price levels; they are an analyst’s conditional assessment, not company guidance.
