Strong Results, Weak Sentiment: Why PNGJL Crashed 21% This Week

PN Gadgil Jewellers (

) came under heavy selling pressure on Friday, 15 May 2026, with the stock hitting the 10% lower circuit despite reporting a strong Q4 performance. On a consolidated YoY basis, net profit jumped 45.6% to ₹90.3 crore from ₹62 crore, while revenue surged 123.2% to ₹3,544.3 crore against ₹1,588.2 crore last year. However, the stock has corrected over 21% on a weekly basis as investors focused on margin pressure during the March 2026 quarter. Sentiment across jewellery stocks also weakened after import duty hikes on gold and silver. Adding to concerns, Prime Minister Narendra Modi urged citizens to reduce gold purchases to manage import pressure and the current account deficit, triggering broad sector-wide selling. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.