Amid the stock market crash, shares of the company that produces gold and silver jewelry approached their fifty-two-week high. This refers to PC Jewellers, which has become a debt-free company and holds significant influence in the jewelry sector, operating stores across the country.
While chaos reigns in the market and the Sensex and Nifty indices are experiencing a collapse, PC Jewellers shares are attracting investor attention. The BSE Sensex index fell by 950 points, and the NSE Nifty declined by more than 300 points, dropping below the 23,000 mark. Nevertheless, PC Jewellers shares reached a level close to their historical high.
The main reason for the increased interest in PC Jewellers shares is that the company successfully met its financial plan to achieve 'debt-free' status. The company fully repaid its outstanding debt to banks. Thanks to the latest payments, PC Jewellers closed all unpaid loans under the agreement with 14 consortium banks signed on September 30, 2024. Notably, these payments were made ahead of schedule.
Achieving the debt-free goal positively impacted PC Jewellers shares, allowing them to maintain a smaller degree of decline despite the overall stock market crash. This is confirmed by the fact that PC Jewellers shares approached their 52-week high.
During trading, which began against the backdrop of a sharp stock market decline, this jewelry asset opened with a gain to 14.55 rupees compared to the previous close of 14.17 rupees, then quickly reached 14.64 rupees, close to its 52-week high. However, after reaching this level, the share price continued to fall amidst the market slump, ultimately closing at 13.53 rupees, losing 4.11%. The company's market capitalization was 13,200 crore rupees.
PC Jewellers has demonstrated significant growth for its investors recently. Over the last three months, shares have risen by approximately 64%, and over six months, their price has increased by an impressive 84%. On Monday, at the start of trading, 136.58 lakh shares of the company were traded worth 19.44 crore rupees.
From a technical perspective, the Relative Strength Index (RSI) of PC Jewellers shares is 66.6, indicating that they are neither in overbought nor oversold territory. This jewelry asset is trading above the moving averages for 5, 10, 20, 30, 50, 100, and 200 days.