Trending Stocks Today, October 16, 2026: PC Jeweller Surges 17%, Yes Bank Extends Slide; Vodafone Idea, Moneyview In Focus

Mumbai, October 16: PC Jeweller, Yes Bank, Vodafone Idea and Moneyview were among the stocks attracting trading interest by volume on the NSE on Friday, October 16. PC Jeweller surged 17.02% as jewellery stocks rallied amid curbs on fresh investments in gold ETF fund-of-funds, while Yes Bank fell 2.87% after a brokerage cut its target price following the Supreme Court’s ruling on its Rs 8,415-crore AT-1 bonds. Vodafone Idea gained 0.72%, snapping a two-session losing streak, while Moneyview traded nearly flat, up 0.03%, after announcing a Rs 250-crore investment in its lending subsidiary Whizdm Finance. 

PC Jeweller Limited (up 17.02%) 

PC Jeweller shares surged as jewellery stocks rallied following temporary restrictions on fresh investments in gold exchange-traded fund (ETF) fund-of-funds (FoFs) by several mutual fund houses ahead of the festive season. 

The rally extended beyond PC Jeweller, with Shanti Gold International shares climbing, while Sky Gold and Diamonds gained. Tribhovandas Bhimji Zaveri advanced. 

Around 17 mutual fund houses temporarily restricted fresh subscriptions and new systematic registrations in gold ETF FoFs, with the curbs taking effect on October 15 and 16. The restrictions do not affect redemptions, while instalments under existing systematic investment plans (SIPs) and systematic transfer plans (STPs) registered before the respective effective dates will continue. 

Although the fund houses have not cited a common reason for the move, Shriram Mutual Fund said the restrictions followed instructions from the Securities and Exchange Board of India (SEBI) conveyed through the Association of Mutual Funds in India (AMFI). The timing has drawn attention to the potential shift in investor preferences towards physical gold and jewellery purchases as Dussehra, Diwali and the wedding season approach.  

Gold ETF inflows had already risen sharply in September. According to Association of Mutual Funds in India data, gold ETFs attracted net inflows of Rs 4,450.61 crore during the month, a 71.4% increase from Rs 2,596.70 crore in August. The temporary restrictions could influence how investors access gold-linked investments, although gold ETFs listed on stock exchanges remain available for direct purchases. 

Market experts expect jewellery demand to remain resilient despite elevated gold prices, supported by festive buying and wedding-related purchases. Consumers have been adapting to higher prices by opting for lightweight jewellery, making smaller-ticket purchases and exchanging old gold. Organised jewellery retailers could also benefit from market-share gains, although sales volumes, revenue growth and margins remain important factors to monitor. 

Yes Bank Limited (down 2.87%) 

Yes Bank shares extended their decline on Friday after a global brokerage lowered its target price on the stock to Rs 17.50 from Rs 22, retaining its ‘Sell’ rating following the Supreme Court’s decision to overturn the lender’s Rs 8,415-crore additional tier-1 (AT-1) bond write-off.  

The revised target price implies a further downside of around 3.4% from Thursday’s closing price of Rs 18.12. Yes Bank shares had plunged 14.53% on Thursday, October 15, after the Supreme Court upheld the Bombay High Court’s decision to invalidate the write-off carried out during the lender’s restructuring in March 2020. The stock has also underperformed the broader market this year, declining 15.7% in 2026 as of Thursday’s close. 

The broker warned that the Supreme Court ruling could weaken Yes Bank’s capital position by requiring it to recognise the AT-1 bonds that had previously been written off. The brokerage estimates that the reversal could reduce the bank’s Common Equity Tier-1 (CET-1) capital ratio by around 250 basis points to approximately 11.5%, excluding the additional impact of coupon payments on the outstanding bonds. 

CET-1 capital is a key measure of a bank’s financial strength and its capacity to absorb losses. A reduction in the ratio would narrow Yes Bank’s capital cushion. 

The broker also estimates that the reversal could erode the bank’s book value by 13-14%. 

Yes Bank said it was examining the Supreme Court’s order and assessing its implications. 

Separately, a global ratings agency said the ruling was unlikely to affect Yes Bank’s credit ratings, although the financial impact would weigh on earnings.  

Japan’s Sumitomo Mitsui Banking Corporation (SMBC), which acquired a significant stake in Yes Bank in 2025, is also in focus. The broker’s lower target price and continued Sell rating underscore the risks facing the stock as the bank works through the financial and regulatory consequences of the judgment. 

Vodafone Idea Limited (up 0.72%) 

Telecom stock Vodafone Idea rose on Friday snapping a two session losing streak. Over five days, it is down 1.9% and over one month down 11.6%. This year it is up 8.7%. Yesterday the stock had fallen despite Reliance Jio Platforms’ proposed initial public offering (IPO) lifting sentiment towards telecom stock Bharti Airtel. 

Moneyview Limited (up 0.03%)  

Moneyview shares traded largely flat on Friday as investors assessed the fintech company’s latest corporate disclosure. 

In a filing to the exchanges on Thursday, Moneyview said it had invested an additional Rs 250 crore in wholly owned subsidiary Whizdm Finance through a subscription to its equity share capital. The investment is intended to strengthen the non-banking financial company’s capital base and support the expansion of its lending operations.  

Whizdm Finance reported turnover of Rs 1,517.49 crore for the financial year ended March 31, 2026. Moneyview said the transaction was undertaken in line with the objectives outlined in its initial public offering (IPO) documents. The additional investment will not change Moneyview’s ownership in the subsidiary, which will remain wholly owned.  

Source

• NSE