P N Gadgil share price drops 3% amid strong Q3 business update; here’s what technical analyst says | Stock Market News

P N Gadgil share price fell by almost 3% during Thursday’s trading session following the Q3 business update. On January 8, jewellery retail chain PN Gadgil Jewellers Ltd announced a consolidated year-on-year (YoY) revenue increase of 24% for Q3 FY25, fueled by strong same-store sales growth and heightened demand during Dussehra, Diwali, and the wedding season.

The retail segment drove growth with a 42% year-over-year increase in revenue, while the franchise segment experienced an impressive 87% year-over-year rise. The e-commerce segment excelled, achieving a remarkable 98% year-over-year boost in revenue. The diamond category also demonstrated robust momentum, attaining a 40% year-over-year growth in revenue.

Additionally, according to an exchange filing, the company opened nine new outlets over nine days during Navratri in October 2024 in line with its expansion goal. The following quarter will see the opening of three more stores.

“As previously mentioned, in line with the plan to open 12 new stores, we have already launched 9 new stores over 9 consecutive days during Navratri in Oct‐24. Moreover, we are all set to open 3 more stores in the upcoming quarter, further enhancing our store presence,” the company said in an exchange filing.

In its brokerage report, Motilal Oswal Financial Services has set a target price of ₹950 and given a “Buy” recommendation on the company.

Based in Pune, the brand has emerged as the second largest operator in Maharashtra based on the number of stores and has established 48 locations across India and the USA. To maintain consistent quality and expand its reach, the brand employs a combination of COCO and FOCO models.

P N Gadgil share price today

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One pointed out that the volume has dried down in the last few sessions with prices trading within a range of ₹630 – 700, next directional move would be seen on a rage breakout, below ₹630 prices could slip towards ₹600 and above ₹700 , prices could stretch towards ₹740.

P N Gadgil share price today opened at an intraday high of ₹690.70 apiece on the BSE, the stock touched an intraday low of ₹654 per share.

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