Key Events This Week
Jan 19: Stock opens at Rs.66.78, modest gain despite Sensex decline
Jan 20: Sharp 4.33% drop to Rs.63.89 coincides with rating upgrade announcement
Jan 21: MarketsMOJO upgrades rating to Strong Buy citing valuation and financial strength
Jan 22: Stock rebounds 2.98% to Rs.65.76 on improving market sentiment
Jan 23: Week closes at Rs.65.61, marginal decline amid Sensex weakness
Monday, 19 January 2026: Modest Gain Amid Market Weakness
Bank of Maharashtra opened the week on a positive note, closing at Rs.66.78, up 0.32% from the previous Friday’s close of Rs.66.57. This modest gain came despite the Sensex falling 0.49% to 36,650.97, signalling relative strength in the stock amid a broadly negative market environment. The volume of 3,100,717 shares indicated steady investor interest as the bank maintained its position near recent highs.
Tuesday, 20 January 2026: Sharp Decline on Upgrade Day
The stock experienced a sharp decline of 4.33%, closing at Rs.63.89, coinciding with the announcement of a significant upgrade by MarketsMOJO. The Sensex also fell sharply by 1.82% to 35,984.65, reflecting broader market weakness. Despite the drop, the downgrade in price was largely a short-term reaction, as the upgrade highlighted the bank’s robust fundamentals and very attractive valuation metrics.
Wednesday, 21 January 2026: Strong Buy Upgrade Highlights Robust Fundamentals
MarketsMOJO upgraded Bank of Maharashtra’s investment rating from Buy to Strong Buy on 20 January 2026, citing a marked improvement in valuation and financial performance. The bank’s price-to-earnings ratio of 7.56 is notably lower than many public sector peers, while its price-to-book value of 1.48 and PEG ratio of 0.32 indicate undervaluation relative to earnings growth. The upgrade was supported by record quarterly interest income of ₹7,344.20 crore and a quarterly profit after tax of ₹1,779.33 crore, marking 21 consecutive profitable quarters.
Quality metrics such as a net NPA to book value ratio of 1.24% and a credit-deposit ratio of 83.79% underscore prudent risk management and strong lending practices. Institutional investors increased their stake by 6.02% QoQ to 18.42%, signalling growing confidence. Despite the upgrade, the stock closed marginally lower at Rs.63.86 (-0.05%) on the day, reflecting short-term market volatility.
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Thursday, 22 January 2026: Recovery on Positive Market Sentiment
Following the upgrade, Bank of Maharashtra’s stock rebounded strongly, gaining 2.98% to close at Rs.65.76. This recovery outpaced the Sensex’s 0.76% rise to 36,088.66, reflecting renewed investor confidence in the bank’s fundamentals. The volume dropped to 888,061 shares, indicating selective buying interest. The rebound helped the stock regain some ground lost earlier in the week, supported by the positive outlook from the rating upgrade and attractive valuation.
Friday, 23 January 2026: Week Ends with Marginal Decline Amid Market Weakness
The week concluded with a slight decline of 0.23% to Rs.65.61, as the Sensex fell 1.33% to 35,609.90. The stock’s relative outperformance over the broader market’s 3.31% weekly decline highlights its resilience amid volatile conditions. Trading volume increased to 1,692,075 shares, suggesting sustained investor interest despite the marginal price dip. The stock remains near its recent highs, supported by strong financial metrics and a compelling valuation profile.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.66.78 | +0.32% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.63.89 | -4.33% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.63.86 | -0.05% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.65.76 | +2.98% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.65.61 | -0.23% | 35,609.90 | -1.33% |
Key Takeaways
Strong Buy Upgrade Reflects Robust Fundamentals: The MarketsMOJO upgrade to Strong Buy on 20 January 2026 was driven by Bank of Maharashtra’s very attractive valuation metrics, including a low PE ratio of 7.56 and PEG of 0.32, alongside strong financial performance such as record quarterly profits and consistent earnings growth.
Relative Outperformance Despite Market Volatility: While the stock declined 1.44% over the week, it outperformed the Sensex’s 3.31% fall, demonstrating resilience amid broader market weakness and volatility.
Institutional Confidence and Quality Metrics: Increased institutional holdings to 18.42% and strong asset quality ratios (net NPA to book value at 1.24%) underscore growing investor confidence and prudent risk management.
Short-Term Volatility Amid Positive Medium-Term Outlook: The sharp drop on the upgrade day was a short-term reaction, with the stock recovering strongly the following day. The overall trend remains supported by strong fundamentals and attractive valuation.
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Conclusion
Bank of Maharashtra’s week was characterised by a significant upgrade to a Strong Buy rating, reflecting its very attractive valuation and robust financial metrics. Despite short-term price volatility and a 1.44% weekly decline, the stock outperformed the broader Sensex, which fell 3.31%. The bank’s strong asset quality, consistent profit growth, and rising institutional interest underpin a positive medium-term outlook. Investors should note the short-term fluctuations but recognise the bank’s solid fundamentals and relative resilience in a challenging market environment.
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