Key Events This Week
27 Jan: Stock opens strong at ₹4,404.90 (+2.10%)
28 Jan: Moderate gains continue with ₹4,421.10 (+0.37%)
29 Jan: Intraday high of ₹4,813.65 with 7.56% surge; record quarterly results announced
30 Jan: Bullish momentum confirmed; valuation shifts to very expensive
30 Jan: Week closes at ₹4,653.25 (-0.52% on day, +7.85% weekly)
27 January 2026: Strong Weekly Start with 2.10% Gain
eClerx Services Ltd began the week on a positive note, closing at ₹4,404.90, up ₹90.40 or 2.10% from the previous Friday’s close of ₹4,314.50. This gain outpaced the Sensex’s 0.50% rise to 35,786.84, signalling early buying interest. The volume was modest at 2,896 shares, indicating measured but confident participation. The stock’s relative strength set the tone for the week ahead.
28 January 2026: Continued Gains Amid Broader Market Rally
The momentum carried into 28 January, with eClerx inching higher by 0.37% to ₹4,421.10. This modest gain accompanied a strong Sensex rally of 1.12% to 36,188.16, reflecting positive market sentiment. Notably, the stock’s volume surged to 211,934 shares, suggesting increased investor engagement. The steady advance maintained the stock’s position above key moving averages, reinforcing a bullish technical setup.
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29 January 2026: Intraday High and Record Quarterly Results Propel Stock
29 January marked the highlight of the week as eClerx Services Ltd surged 7.56% intraday, reaching a peak of ₹4,813.65 before closing at ₹4,677.60, a gain of ₹256.50 or 5.80%. This performance significantly outpaced the Sensex’s marginal 0.22% rise to 36,266.59. The stock’s intraday volatility of 5.15% reflected active trading and strong investor interest.
The surge was underpinned by the company’s very positive quarterly results for December 2025, which reported record net sales of ₹1,070.33 crores and PBDIT of ₹276.26 crores. Profit before tax (excluding other income) stood at ₹220.05 crores, with net profit after tax reaching ₹191.98 crores, all new highs for the company. Earnings per share rose to ₹41.04, signalling strong value creation.
Operational efficiency was also highlighted by an exceptional inventory turnover ratio of 14,766.08 times on a half-yearly basis and a cash balance of ₹818.36 crores, underscoring robust liquidity. These fundamentals supported the stock’s strong price action and reinforced its leadership in the Commercial Services & Supplies sector.
30 January 2026: Technical Momentum Shift and Valuation Upgrade
On the final trading day of the week, eClerx Services Ltd closed slightly lower at ₹4,653.25, down ₹24.35 or 0.52%, while the Sensex declined 0.22% to 36,185.03. Despite the minor pullback, technical indicators signalled a bullish momentum shift. The stock traded above all key moving averages, with daily moving averages firmly bullish and monthly MACD and Bollinger Bands supporting a positive trend.
The Moving Average Convergence Divergence (MACD) and Know Sure Thing (KST) oscillators presented mixed short-term signals but maintained a bullish longer-term outlook. On-Balance Volume (OBV) readings confirmed strong volume support for the price advances. These technical signals, combined with a Mojo Score upgrade to 84.0 and a Strong Buy grade, indicate sustained investor confidence.
Valuation metrics also shifted, with the price-to-earnings (P/E) ratio rising to 33.32, moving the stock’s rating from 'expensive' to 'very expensive'. The price-to-book value ratio increased to 8.49, reflecting premium market expectations. Despite the elevated valuation, strong profitability metrics such as a 43.06% return on capital employed (ROCE) and 23.40% return on equity (ROE) justify the premium to some extent.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-27 | Rs.4,404.90 | +2.10% | 35,786.84 | +0.50% |
| 2026-01-28 | Rs.4,421.10 | +0.37% | 36,188.16 | +1.12% |
| 2026-01-29 | Rs.4,677.60 | +5.80% | 36,266.59 | +0.22% |
| 2026-01-30 | Rs.4,653.25 | -0.52% | 36,185.03 | -0.22% |
Key Takeaways
Strong Weekly Outperformance: eClerx Services Ltd outpaced the Sensex by over 6 percentage points, gaining 7.85% versus the benchmark’s 1.62%, demonstrating robust relative strength.
Record Quarterly Results: The December 2025 quarter set new highs in revenue (₹1,070.33 crores), profitability (PBDIT ₹276.26 crores), and EPS (₹41.04), underpinning the stock’s price gains.
Technical Momentum Shift: Bullish moving averages, positive volume trends, and upgraded Mojo Score to 84.0 (Strong Buy) signal sustained upward momentum despite short-term oscillators suggesting caution.
Valuation Premium: Elevated P/E of 33.32 and P/BV of 8.49 reflect high market expectations, supported by strong ROCE (43.06%) and ROE (23.40%), though investors should monitor for valuation risks.
Sector Leadership: eClerx’s operational efficiency and financial strength position it favourably within the Commercial Services & Supplies sector, maintaining a mid-cap market capitalisation grade of 3.
Conclusion
eClerx Services Ltd’s week was characterised by strong price appreciation, driven by record quarterly financials, a bullish technical momentum shift, and a valuation upgrade reflecting heightened investor confidence. The stock’s 7.85% weekly gain significantly outperformed the Sensex, underscoring its resilience and leadership in the Commercial Services & Supplies sector. While the elevated valuation metrics warrant cautious monitoring, the company’s robust profitability and operational efficiency provide a solid foundation for sustained performance. Investors should watch for continued quarterly results and technical signals to gauge the stock’s trajectory amid evolving market conditions.
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