News

PC Jeweller share price experienced a slight uptick in the early session on Sunday (February 1) before moving into red, influenced in part by significant drops in precious metal prices, especially silver.

Following a period of considerable fluctuations in bullion markets—where gold and silver had reached high levels—recent corrections in these metals have alleviated cost pressures for jewellers.

Experts indicate that jewellery stocks typically encounter challenges when gold and silver prices surge, as increased input costs can reduce consumer demand and squeeze profit margins.

On the session held on Sunday (February 1), the MCX silver price for the March futures contract decreased by ₹7,099, or 2.43%, starting at ₹2,84,826 per kilogram compared to its previous closing price of ₹2,91,925.

The MCX gold rate continued its downward trend, with the price of the yellow metal dropping by ₹13,711, or 9%, to reach ₹1,38,634 per 10 grams.

Further, the company's Board of Directors, via a resolution circulated on January 31, 2026, sanctioned the issuance of 51,24,68,600 equity shares, each with a face value of Re 1, following the conversion of 5,12,46,860 fully convertible warrants. These shares have been issued to three beneficiaries from the Promoter Group, subsequent to the receipt of the full payment for the warrants.

According to an exchange filing, the conversion process has been executed after making adjustments to the number of shares, the paid-up value for each share, and the premium per share, in response to the subdivision of equity shares conducted by the company. This subdivision involved dividing one equity share with a face value of ₹10 into ten equity shares with a face value of Re 1 each, which became effective on December 16, 2024.

The company received a total of ₹216,00,55,149 as the remaining payment, which represents 75% of the issue price per warrant, at a cost of ₹42.15 per warrant. This payment was processed in line with the conditions of the preferential issue and the execution of conversion rights by the warrant holders, in accordance with the provisions set forth in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, said the firm in an exchange filing.

The newly issued equity shares will hold the same rights as the existing equity shares of the company in all aspects, including dividend distributions and voting privileges. Following this issuance, the company's paid-up equity share capital will be increased correspondingly.

Gold and silver prices on the Multi Commodity Exchange of India (MCX) continued to decline on Sunday during a special trading session held for Budget 2026. Today, Union Finance Minister Nirmala Sitharaman will deliver the Union Budget for 2026-2027 in the Lok Sabha.

The MCX gold price for April futures contracts started 0.48% lower at ₹1,51,610 per 10 grams compared to its prior close of ₹1,52,345. The selling pressure on the yellow metal increased significantly, leading to an additional drop of 9% in the MCX gold rate.

The MCX silver price for the March futures expiry fell by ₹7,099, or 2.43%, opening at ₹2,84,826 per kilogram versus its previous closing price of ₹2,91,925. Additionally, the MCX silver price saw a more than 9% decline as the selloff gained momentum.

PC Jeweller share price today opened at an intraday high of ₹10.67 apiece on Sunday's session, the stock touched an intraday low of ₹10.48 per share.

According to Anshul Jain, Head of Research at Lakshmishree, PC Jeweller has successfully retested its long-term monthly breakout zone near 10.5 and is now consolidating around this level, reinforcing the validity of the structural breakout. The price action suggests absorption rather than distribution, with the retest holding firmly instead of slipping back into the prior base. For the next few months—potentially up to 34 months—the stock is expected to build a durable base around 10.5, allowing momentum and participation to rebuild gradually.

“Once the consolidation matures and demand regains control, the structure supports a renewed upside move toward the 14.5–15 zone. Risk remains contained as long as the breakout level continues to hold,” said Jain.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.