New Delhi:Shares of PC Jeweller plunged over 10 per cent during intra-day trading on Tuesday, snapping the 5-day winning streak, after NSE and BSE put the stock under short-term additional surveillance (ASM) framework.
The stock opened slightly lower at Rs 18.67 against the previous day's closing price of Rs 18.70 on NSE. The scrip extended the loss further following heavy selling pressure, hitting an intra-day low of Rs 16.83, down over 10 per cent.
PC Jeweller shares closed at Rs 17.90, down 4.28 per cent as compared to last session's closing price.Meanwhile, its 52-week high, which it hit a day earlier, was Rs 19.65, and the 52-week low was Rs 5.51.The exchange's decisions came following a rapid surge in the jewellery firm's share price in the last few trading sessions.
As per Exchange mechanisms, the ASM framework is placed to warn investors, prevent excessive speculation, and maintain market stability.The placement of stock under short-term ASM usually indicates that regulators have detected excessive volatility, volume spikes, or odd price movements.
Despite today's decline, the stock has given a multi-fold return of over 250 per cent from its 52-week low of Rs 5.34 in July 2024.After a flat performance in June, the scrip rose 39 per cent in July 2025 alone. However, the stock remained volatile over the previous few months; it rose nearly 2.5 per cent per cent in May but fell over 6 per cent in April.
Meanwhile, PC Jeweller Board is set to meet on July 10 to consider and approve a proposal for fundraising through a preferential allotment of securities, the company said in an exchange filing.The fundraising plan is subject to regulatory, shareholder and statutory approvals, with final pricing yet to be determined.
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