New Delhi, July 8 -- Shares of smallcap multibagger stock PC Jeweller came under intense selling pressure on Tuesday, July 8, sliding as much as 10 percent to Rs.16.85 after both the BSE and NSE placed the stock under the short-term Additional Surveillance Measure (ASM) framework. The move comes on the back of a rapid surge in the company's share price in recent trading sessions, prompting regulatory scrutiny.

The sharp drop follows a strong two-day rally in which the stock gained up to 33 percent, touching an all-time high of Rs.19.65 in the previous session. However, Tuesday's fall erased a portion of those gains, reminding investors of the volatility that often accompanies such speculative rallies.

According to exchange mechanisms, t...