Daijiworld Media Network - New Delhi

New Delhi, Jul 8: Shares of PC Jeweller Ltd. nosedived by 8.66% to Rs 17.08 on Tuesday at the National Stock Exchange (NSE), following the decision by both the NSE and BSE to place the stock under the short-term Additional Surveillance Measure (ASM) framework.

The ASM framework is aimed at maintaining market integrity and protecting investor interests by keeping a check on excessive stock price volatility.

This steep fall comes just days after a sharp rally. The stock had soared nearly 33% over two sessions—rising 20% on July 4 and another 12% on Monday—after the company issued a positive business update.

PC Jeweller reported an impressive 80% year-on-year growth in standalone revenue for the latest quarter, attributing the performance to customer trust and festive season demand. The company also highlighted a surge in purchases during weddings and festivals.

Further bolstering investor sentiment earlier, PC Jeweller said it had made significant progress in reducing its debt burden. The company cut its outstanding debts by more than 50% during FY25 and aims to become debt-free by the end of FY26. A 7.5% debt reduction was also recorded in the last quarter alone.

However, Tuesday’s sharp decline underscores the market’s sensitivity to regulatory moves, despite the company’s improved financial performance.