Key Events This Week
2 Feb: Stock opens at Rs.34,527.70 amid Sensex decline
3 Feb: MarketsMOJO upgrades 3M India Ltd. to Buy
4 Feb: Technical momentum shifts bullish; stock gains 2.32%
5 Feb: Minor profit-taking leads to 1.16% decline
6 Feb: Week closes at Rs.35,091.00, up 1.69% for the week
2 February 2026: Stock Opens Steady Amid Market Weakness
3M India Ltd. began the week at Rs.34,527.70, registering a marginal increase of 0.06% despite the Sensex falling 1.03% to 35,814.09. The stock’s resilience in a declining market set a positive tone for the week, supported by steady volume of 103 lakh shares. This relative stability hinted at underlying investor confidence ahead of anticipated developments.
3 February 2026: Upgrade to Buy Sparks Optimism
On 3 February, MarketsMOJO upgraded 3M India Ltd. from Hold to Buy, citing strong technical and financial performance. This upgrade reflected a marked improvement in technical indicators including bullish Bollinger Bands and moving averages, alongside robust financial metrics such as a 26.84% growth in profit after tax over the recent six months. The stock closed at Rs.35,020.55, up 1.43%, outperforming the Sensex’s 2.63% gain that day. Volume surged to 249 lakh shares, indicating increased investor interest following the rating change.
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4 February 2026: Technical Momentum Shifts Bullish Amid Market Gains
The stock surged 2.32% to close at Rs.35,831.30 on 4 February, marking the week’s highest close. This gain coincided with a significant shift in technical momentum from mildly bullish to bullish, supported by daily moving averages and monthly MACD indicators. The stock traded within a range of Rs.34,747.15 to Rs.35,595.00, maintaining a comfortable distance above its 52-week low of Rs.25,714.35. The Sensex also advanced 0.37% to 36,890.21, but 3M India’s outperformance was notable. Volume remained healthy at 188 lakh shares, reinforcing the strength of the move.
5 February 2026: Profit-Taking Triggers Minor Pullback
Following the strong rally, 3M India experienced a slight correction on 5 February, declining 1.16% to Rs.35,415.90. This pullback occurred amid a broader market dip, with the Sensex falling 0.53% to 36,695.11. The volume dropped to 91 lakh shares, indicating reduced trading activity. Despite the decline, the stock remained well above its weekly open and maintained its technical bullish stance, suggesting the correction was a healthy consolidation rather than a reversal.
6 February 2026: Week Closes with Modest Gains
3M India closed the week at Rs.35,091.00, down 0.92% on the day but up 1.69% for the week overall. The Sensex edged up 0.10% to 36,730.20. Trading volume was notably low at 13 lakh shares, reflecting a quiet end to the week. The stock’s ability to hold most of its weekly gains despite the subdued volume and minor daily declines underscores the underlying strength from the earlier technical upgrade and solid financials.
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Weekly Price Performance: 3M India Ltd. vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.34,527.70 | +0.06% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.35,020.55 | +1.43% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.35,831.30 | +2.32% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.35,415.90 | -1.16% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.35,091.00 | -0.92% | 36,730.20 | +0.10% |
Key Takeaways
Positive Signals: The MarketsMOJO upgrade to Buy on 3 February was a pivotal event, reflecting improved technical indicators and strong financial results, including a 26.84% PAT growth and a 49.19% ROCE for the half-year. The stock’s outperformance relative to the Sensex across multiple timeframes, including a 1.69% weekly gain versus 1.51% for the benchmark, highlights its resilience and momentum. The bullish technical shift on 4 February, supported by moving averages and monthly MACD, suggests sustained upward potential.
Cautionary Notes: Despite the positive momentum, the stock experienced minor profit-taking on 5 and 6 February, with declines of 1.16% and 0.92% respectively. The weekly MACD and On-Balance Volume indicators remain mildly bearish in the short term, signalling potential for intermittent consolidation. Additionally, the stock’s elevated valuation, with a price-to-book ratio of 18.3, warrants careful monitoring as it leaves limited room for error in growth expectations.
Conclusion
3M India Ltd. demonstrated a solid performance in the week ending 6 February 2026, supported by a significant upgrade in technical momentum and strong financial fundamentals. The MarketsMOJO Buy rating upgrade encapsulates the stock’s improved outlook, driven by robust profitability growth and a debt-free balance sheet. While short-term volatility and valuation concerns suggest prudence, the overall technical and fundamental landscape favours continued gains. Investors should watch for confirmation of sustained momentum and remain mindful of the premium valuation as the stock navigates its next phase of price action.
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