Stock Performance and Market Context
On 2 Feb 2026, Bajaj Steel Industries Ltd (Stock ID: 662894) recorded an intraday low of Rs.408, representing a 3.18% drop on the day and a 2.94% decline in the latest session. This marks the lowest price level for the stock in the past year, down sharply from its 52-week high of Rs.870. The stock has been on a downward trajectory for four consecutive trading days, accumulating a loss of 7.29% over this period.
The stock’s performance today notably underperformed its sector by 3.15%, while the broader Sensex index opened 167.26 points lower and was trading at 80,442.42, down 0.35%. The Sensex itself is trading below its 50-day moving average, signalling a cautious market environment, although the 50DMA remains above the 200DMA, indicating some longer-term support for the index.
Bajaj Steel Industries is currently trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — underscoring the prevailing bearish momentum in the stock.
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Long-Term Performance and Financial Metrics
Over the past year, Bajaj Steel Industries Ltd has delivered a total return of -48.78%, significantly underperforming the Sensex, which posted a positive return of 3.79% during the same period. This stark contrast highlights the stock’s relative weakness within the industrial manufacturing sector and the broader market.
Financially, the company has exhibited modest growth in net sales, with a compound annual growth rate of 7.36% over the last five years. Operating profit has grown at a slightly higher rate of 14.22% annually during this period. However, recent half-year results indicate a flat performance, with return on capital employed (ROCE) at a low 18.31%, signalling subdued efficiency in capital utilisation.
Profitability has also seen a decline, with profits falling by 7.5% over the past year. Despite this, the company maintains a low average debt-to-equity ratio of zero, reflecting a conservative capital structure with minimal leverage.
Return on equity (ROE) stands at 14.6%, which, combined with a price-to-book value of 2.1, suggests the stock is trading at a valuation that is fair relative to its peers’ historical averages. This valuation metric indicates that the market is pricing in the company’s current challenges while recognising its underlying asset base.
Shareholding and Promoter Activity
Notably, promoter confidence appears to be strengthening, with promoters increasing their stake by 8.35% over the previous quarter. They now hold 56.62% of the company’s equity. This rise in promoter holding may reflect a commitment to the company’s strategic direction despite recent share price declines.
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Mojo Score and Market Ratings
Bajaj Steel Industries Ltd currently holds a Mojo Score of 37.0, which corresponds to a Mojo Grade of Sell. This represents an upgrade from its previous Strong Sell grade, revised on 17 Oct 2025. The market capitalisation grade is rated at 3, indicating a mid-tier market cap classification within its sector.
The downgrade in sentiment over the past year aligns with the stock’s underperformance and subdued financial results. The company’s relative weakness compared to the BSE500 index, which generated a 3.61% return in the last year, further emphasises the challenges faced by Bajaj Steel Industries.
Sector and Market Environment
The industrial manufacturing sector has experienced mixed performance, with some indices such as the S&P BSE FMCG and NIFTY FMCG also hitting 52-week lows on the same day. This broader sector weakness may be contributing to the pressure on Bajaj Steel Industries’ stock price.
While the Sensex remains above its 200-day moving average, its current position below the 50-day moving average suggests near-term caution among investors. This environment has coincided with Bajaj Steel Industries trading below all major moving averages, reflecting a more pronounced downtrend for the stock relative to the market.
Summary of Key Price and Performance Indicators
The stock’s 52-week low of Rs.408 is a significant milestone, representing a decline of over 53% from its 52-week high of Rs.870. The recent four-day losing streak and the intraday low reached today highlight the ongoing pressure on the share price. The day’s decline of 2.94% and underperformance relative to the sector by 3.15% further illustrate the stock’s current challenges.
Despite these headwinds, the company’s low leverage, reasonable valuation metrics, and increased promoter stake provide a nuanced picture of its current standing within the industrial manufacturing sector.
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