Shares of PC Jewellers surged as much as 14 percent in morning trade today to hit Rs 100.35 apiece. In one week's time, the stock gained 114.19 percent from its 52-week low of Rs 46.85 as of 26 October.

In the last 7 trade sessions, shares of PC Jewellers have been outperforming its sector. On Thursday last week, it closed at Rs 69.40 a share and the following day, it soared 27.09 percent to Rs 88.20 apiece at closing, before hitting Rs 90.25.

The stock is still a long way from its life-time high of Rs 600.65 a piece that it touched earlier this year on 16 January. Analysts say that the week's surge is due to rise in demand for gold amid the ongoinh festivities in the country.

Meanwhile, the S&P BSE Sensex declined 0.38 percent or 127 points to 34,884 at opening trade on Monday and NSE's Nifty 50 also started 0.4 percent or 41 points lower at 10,509.