Shares of Banco Products (India) Ltd tumbled 9.11 per cent on Tuesday to settle at Rs 795.60. Despite the pullback, the smallcap auto ancillary stock has delivered multibagger returns, surging 147.85 per cent over the past six months.

Bourses BSE and NSE have placed Banco Products under the short-term ASM (Additional Surveillance Measure) framework to caution investors about elevated volatility in its share price. Advertisement

On the technical front, a few analysts turned cautious following the recent sharp run-up.

Sebi-registered analyst AR Ramachandran said, "Banco Products' stock is bearish on daily charts with strong resistance at Rs 875. A daily close below the support of Rs 793 could trigger a drop towards Rs 700 in the near term."

Drumil Vithlani, Technical Analyst at Bonanza,

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