Bank of Maharashtra Gains 8.79%: 6 Key Factors Driving the Rally

23 February 2026: New 52-Week High and Volume Surge

Bank of Maharashtra began the week on a strong note, hitting a new 52-week high of Rs.71.23. The stock closed at Rs.69.66, up 1.25%, outperforming the Sensex’s 0.39% gain. Exceptional trading volume of over 82 lakh shares, valued at approximately ₹58.06 crores, signalled strong accumulation. The stock’s price was comfortably above all key moving averages, confirming a robust uptrend. Institutional investors increased their stake, reflecting confidence in the bank’s fundamentals. The day’s gains contributed to a two-day rally with a cumulative return of 4.58%, underscoring sustained momentum.

24 February 2026: Continued Rally Despite Market Weakness

On 24 February, Bank of Maharashtra extended its gains, touching a new 52-week high of Rs.72.28 and closing at Rs.71.84, a 3.13% increase. This outpaced the public sector banking sector’s 1.47% gain and contrasted with the Sensex’s 0.78% decline. The stock recorded a massive volume spike of 1.76 crore shares, worth approximately ₹125.3 crores, with delivery volumes rising 18.78% above the five-day average. This strong accumulation amid a cautious market backdrop highlighted the stock’s relative strength and investor appeal. The bank’s fundamentals, including a low gross NPA ratio of 1.60% and a credit-deposit ratio of 83.79%, supported the price momentum.

25 February 2026: New Highs and Record Volumes

The stock surged further on 25 February, reaching a new 52-week high of Rs.74.74 and closing at Rs.74.15, up 3.22%. This gain outperformed the public sector banking sector by 3.3% and coincided with a Sensex gain of 0.41%. Trading volume peaked at 3.07 crore shares, with a traded value of approximately ₹226.37 crores. Delivery volumes surged 120.8% above the five-day average, indicating strong investor conviction. The stock’s price-to-book ratio stood at 1.7, with a dividend yield of 3.48%, reinforcing its valuation appeal. Institutional holdings rose to 17.42%, reflecting growing confidence from sophisticated investors.

26 February 2026: Sustained Momentum and Technical Strength

Bank of Maharashtra continued its upward trajectory on 26 February, hitting a new 52-week high of Rs.75.61 and closing at Rs.75.62, a 1.98% gain. The stock outperformed its sector by 0.3% and the Sensex by 0.19%. Exceptional volume of 87.8 lakh shares and delivery volumes up 150.03% above average confirmed strong accumulation. The stock traded above all key moving averages, signalling a sustained bullish trend. The bank’s fundamentals remained solid, with record quarterly interest earned of Rs.7,344.20 crore and profit after tax of Rs.1,779.33 crore. The Mojo Score upgrade to 87.0 and Strong Buy rating further supported investor sentiment.

27 February 2026: New 52-Week High and Week Close

The stock reached its highest level of the week on 27 February, touching Rs.76.99 intraday before closing at Rs.74.85, down 1.02% on the day. Despite the slight dip, the stock outperformed the Sensex, which declined 1.16%. Trading volume remained elevated at over 74 lakh shares, with delivery volumes increasing 24.03% above the five-day average, confirming ongoing accumulation. The stock’s six-day rally delivered an 11.89% return, significantly outpacing the Sensex’s 0.43% gain over the same period. The bank’s strong fundamentals, including a low gross NPA ratio of 1.60%, a credit-deposit ratio of 83.79%, and a high dividend yield of 3.31%, underpin this performance. Institutional investors continue to increase their holdings, reflecting confidence in the bank’s growth trajectory.

Daily Price Comparison: Bank of Maharashtra vs Sensex

Key Takeaways

Strong Price Momentum: The stock gained 8.79% over the week, significantly outperforming the Sensex’s 0.96% decline, driven by multiple new 52-week highs and sustained buying interest.

Exceptional Volume and Accumulation: Daily volume spikes and rising delivery volumes indicate strong institutional and retail accumulation, supporting the price rally.

Robust Fundamentals: Low gross NPA ratio of 1.60%, high credit-deposit ratio of 83.79%, and record quarterly interest and profit figures underpin the stock’s strength.

Valuation and Income Appeal: Attractive price-to-book ratio around 1.6-1.7 and a dividend yield above 3.3% enhance the stock’s appeal for income and growth investors.

Mojo Score Upgrade: The upgrade to a Strong Buy rating with a Mojo Score of 87.0 reflects improved confidence in the bank’s fundamentals and technical outlook.

Institutional Confidence: Institutional holdings increased by 5.02% to 17.42%, signalling strong endorsement from sophisticated investors.

Conclusion

Bank of Maharashtra’s performance during the week of 23–27 February 2026 was marked by strong price appreciation, robust volume-driven accumulation, and solid fundamental support. The stock’s ability to consistently hit new 52-week highs amid mixed broader market conditions highlights its relative strength and investor appeal. The recent upgrade to a Strong Buy rating by MarketsMOJO, combined with attractive valuation metrics and growing institutional participation, underscores the bank’s prominent position within the public sector banking space. While the slight dip on the final trading day suggests some short-term profit booking, the overall trend remains positive, supported by strong earnings growth and prudent asset quality management. Investors monitoring mid-cap banking stocks will find Bank of Maharashtra’s weekly performance noteworthy for its blend of technical momentum and fundamental resilience.

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