Key Events This Week
09 Feb: Stock opens at Rs.37.72, gaining 1.84% on strong volume
10 Feb: MarketsMOJO upgrades rating to Hold; stock closes at Rs.37.72 (+1.84%)
11 Feb: Minor correction to Rs.37.78 (-0.42%) amid mixed technical signals
12 Feb: Stock dips further to Rs.37.44 (-0.90%) as Sensex declines
13 Feb: Week closes at Rs.36.87 (-1.52%), slightly outperforming Sensex
09 February 2026: Positive Start Amid Broader Market Gains
Central Bank of India began the week on a strong note, closing at Rs.37.72, up 1.84% from the previous Friday’s close of Rs.37.04. This gain outpaced the Sensex’s 1.04% rise to 37,113.23 points. The stock’s volume was robust at over 1.09 million shares, signalling investor interest. The positive momentum was supported by improved technical indicators, setting the tone for the week ahead.
10 February 2026: MarketsMOJO Upgrades to Hold on Improved Fundamentals
The most significant event of the week occurred on 10 February, when MarketsMOJO upgraded Central Bank of India’s rating from Sell to Hold. This upgrade was driven by a combination of improved technical trends and stronger financial performance. The stock closed at Rs.37.72, maintaining the previous day’s gains with a 1.84% increase. The upgrade reflected a shift in technical momentum from bearish to mildly bearish, with weekly MACD turning mildly bullish despite monthly indicators remaining cautious.
Financially, the bank demonstrated strong profit growth with a compound annual growth rate (CAGR) of 44.88% in net profit over recent quarters, alongside improved asset quality metrics such as a Gross NPA of 2.70% and Net NPA of 0.45%. Valuation metrics remained attractive, with a Price to Book ratio of 0.9 and a low PEG ratio of 0.3, supporting the Hold rating despite the stock’s recent underperformance over the past year.
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11 February 2026: Mixed Signals Lead to Minor Correction
Following the upgrade, the stock experienced a slight pullback, closing at Rs.37.78, down 0.42% from the previous day. The Sensex continued its upward trajectory, albeit modestly, gaining 0.13%. Technical momentum remained mixed, with the Relative Strength Index (RSI) showing neutral readings and Bollinger Bands indicating sideways movement. The daily moving averages and Know Sure Thing (KST) indicators continued to signal mild bearishness, reflecting investor caution despite the recent positive news.
12 February 2026: Broader Market Weakness Weighs on Stock
On 12 February, Central Bank of India’s share price declined further to Rs.37.44, a 0.90% drop, as the Sensex fell 0.56% to 37,049.40. The stock’s technical indicators remained subdued, with monthly MACD and Bollinger Bands maintaining a mildly bearish stance. On-Balance Volume (OBV) showed no clear trend, indicating a lack of strong volume support for price movements. This day’s decline reflected broader market weakness and ongoing uncertainty in the public sector banking sector.
13 February 2026: Week Closes Slightly Lower but Outperforms Sensex
The week ended with the stock closing at Rs.36.87, down 1.52% on the day but only 0.46% lower for the week overall. The Sensex declined 1.40% on the same day and 0.54% for the week, meaning Central Bank of India marginally outperformed the benchmark. Despite the weekly decline, the stock’s relative resilience amid a falling market highlights the stabilisation suggested by the recent rating upgrade and technical shifts.
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Daily Price Comparison: Central Bank of India vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.37.72 | +1.84% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.37.94 | +0.58% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.37.78 | -0.42% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.37.44 | -0.90% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.36.87 | -1.52% | 36,532.48 | -1.40% |
Key Takeaways
Positive Signals: The upgrade to Hold by MarketsMOJO reflects improved technical momentum, particularly the weekly MACD turning mildly bullish and a stabilising financial performance with strong profit growth and improved asset quality. The stock’s valuation remains attractive with a low Price to Book ratio and PEG ratio, supporting a cautious but more optimistic outlook.
Cautionary Notes: Despite short-term gains, the stock’s longer-term technical indicators such as monthly MACD and KST remain bearish, signalling persistent challenges. The lack of volume confirmation on On-Balance Volume charts and neutral RSI readings suggest limited conviction behind recent price moves. The stock’s one-year return remains negative at -25.88%, underperforming the Sensex’s 7.97% gain over the same period.
Conclusion
Central Bank of India’s week was characterised by a delicate balance between cautious optimism and lingering bearish pressures. The MarketsMOJO upgrade to Hold acknowledges the bank’s improving fundamentals and technical signals, while recognising that the stock is not yet poised for a strong uptrend. The stock’s slight weekly decline of 0.46% was marginally better than the Sensex’s 0.54% fall, indicating relative resilience amid broader market weakness.
Investors should monitor upcoming quarterly results and technical indicators closely to assess whether the stock can sustain its stabilisation and potentially build on the recent momentum. For now, the Hold rating and mixed technical signals suggest a wait-and-watch approach, with the stock positioned in a consolidation phase amid ongoing sectoral challenges.
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