PC Jeweller shares drop 8% as exchanges place stock under surveillance after sharp rally

PC Jeweller shares fell 8.1% after BSE and NSE placed the stock under the short-term ASM framework, following a sharp rally of 33% in two days. The drop comes despite an 80% YoY revenue surge in Q1FY26 and significant debt reduction. Technical indicators suggest the stock is overheated, though momentum remains strong across key moving averages.