Market Performance: A Quiet Start, Then Pressure Builds
PC Jeweller's share price began Sunday’s special trading session on a cautious note. The stock saw a mild uptick early in the day before slipping into negative territory as the session progressed.
This movement did not happen in isolation. The broader backdrop was set by sharp declines in gold and silver prices on the Multi-Commodity Exchange (MCX), which directly influence sentiment around jewellery stocks.
As precious metals corrected sharply after recent highs, the market recalibrated expectations. That shift was evident in how PC Jeweller's shares behaved throughout the session.
Bullion Markets Cool Off After Strong Run-Up
Gold and silver had recently climbed to elevated levels. That rise had increased raw material costs for jewellers. The latest correction, however, eased some of that pressure.
During Sunday’s special trading session held for Budget 2026, both metals extended their downward trend.
Key Commodity Price Movements (MCX)
Silver (March futures)
Fell by ₹7,099
Decline of 2.43%
Opened at ₹2,84,826 per kg
Previous close: ₹2,91,925 per kg
Gold
Dropped by ₹13,711
Decline of 9%
Fell to ₹1,38,634 per 10 grams
The selloff intensified as the session progressed, pushing both metals deeper into the red.
Why Precious Metal Prices Matter for Jewellery Stocks
Jewellery companies operate in a space where gold and silver prices directly impact costs and consumer demand.
When bullion prices rise sharply:
Input costs increase
Retail prices tend to move higher
Demand often softens
When prices correct:
Cost pressure eases
Market sentiment stabilises
The recent fall in gold and silver prices helped ease some of the stress that had built up across jewellery stocks, including PC Jeweller.
Company Update: Equity Shares Issued After Warrant Conversion
Alongside commodity movements, PC Jeweller also disclosed a key corporate development.
The company’s Board of Directors approved the issuance of new equity shares following the conversion of fully convertible warrants.
Details of the Equity Share Issuance
Total equity shares issued: 51,24,68,600
Face value per share: Re 1
Warrants converted: 5,12,46,860
Beneficiaries: Three promoter group entities
This issuance followed the company's receipt of full payment for the warrants.
Payment and Regulatory Details
The company confirmed receipt of the remaining payment linked to the warrant conversion.
Total amount received: ₹216,00,55,149
Payment represented: 75% of the issue price
Price per warrant: ₹42.15
The process was carried out in line with:
Preferential issue conditions
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Impact of Equity Share Subdivision
The warrant conversion and share issuance were adjusted to reflect the company’s earlier equity share subdivision.
PC Jeweller had:
Subdivided 1 equity share of ₹10
Into 10 equity shares of Re 1 each
Effective from December 16, 2024
All adjustments to share count, paid-up value, and premium were made as required.
Shareholder Rights Remain Unchanged
The newly issued equity shares carry the same rights as existing shares.
This includes:
Equal voting rights
Equal dividend entitlement
Following this issuance, the company’s paid-up equity share capital increased proportionately.
Gold and Silver Prices During Budget Session
The special MCX trading session coincided with Budget Day, as the Union Finance Minister presented the Union Budget for 2026–27 in the Lok Sabha.
Additional Commodity Price Snapshot
Gold (April futures)
Opened 0.48% lower
Price: ₹1,51,610 per 10 grams
Previous close: ₹1,52,345
Selling pressure later intensified, resulting in a 9% decline in MCX gold prices.
Silver (March futures)
Extended losses beyond the initial 2.43% drop
Fell more than 9% as selling intensified
PC Jeweller Share Price Today: Intraday Range
During Sunday’s session, PC Jeweller shares traded within a narrow range.
Intraday high: ₹10.67
Intraday low: ₹10.48
The stock’s movement mirrored broader sentiment shaped by bullion price action and company-specific disclosures.
Summary: What Drove the Day’s Action
PC Jeweller's share price activity on Sunday reflected a combination of market-wide and company-specific factors.
Key takeaways:
Sharp correction in gold and silver prices weighed on jewellery stock sentiment
MCX gold rate fell 9%, while MCX silver price dropped over 2.43% initially
PC Jeweller issued over 51 crore equity shares after warrant conversion
Share issuance followed regulatory norms and maintained shareholder rights
Trading took place during a special Budget 2026 session
Source: Livemint
Easy & quick
Leave A Comment?