Jewellery Stocks Post Gains Amid Broader Market Volatility
PC Jeweller Share Price Edges Higher Amid Market Crash
On Tuesday, February 24, PC Jeweller's share price rose by as much as 1.2% to touch its day's high of ₹10.12 on the BSE, despite the overall market crash. The benchmark indices Sensex and Nifty lost around 1% each due to rising dollar, uncertainty around US tariffs, and US-Iran war tensions.
PC Jeweller has expanded its overseas footprint through the incorporation of a step-down subsidiary in Africa, PCJ Mining SARL, in the Republic of Chad. PCJ Gems & Jewellery Limited, a wholly-owned subsidiary of PC Jeweller, holds 66% of the paid-up share capital of PCJ Mining SARL, which stands at 10,00,000 CFA francs.
PCJ Mining SARL will operate in the extraction of precious metal ores, including mining, mineral exploration, and quarrying, as well as the production, refining, and marketing of mineral products. The subsidiary will also be permitted to undertake general import-export trade and provide related services linked to its mining operations.
PC Jeweller's move signals its intent to diversify into upstream activities linked to precious metals, while maintaining its primary focus on the core jewellery retail and manufacturing business. Despite facing challenges, the company has given multibagger returns in the long term, soaring 230% in 5 years. However, its share price has lost 49% from its 52-week high of ₹19.65, hit in July 2025, and has declined 15% in the last 1 year and 26% in the past 6 months.
Investor Takeaway
Investors should note that PC Jeweller's expansion into Africa may have a positive impact on its stock price in the short term.
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