Key Events This Week
Feb 9: Stock opens week at Rs.207.05, gaining 1.22%
Feb 11: Stock rebounds with 1.87% gain to Rs.209.75
Feb 12: Minimal change at Rs.209.80 despite Sensex dip
Feb 13: Q3 results reveal revenue surge but margin erosion; stock falls 2.62% to Rs.204.30
Monday, 9 February: Positive Start Amid Broader Market Rally
Elegant Marbles began the week on a strong note, rising 1.22% to close at Rs.207.05. This outpaced the Sensex’s 1.04% gain to 37,113.23, signalling early optimism. The volume of 1,408 shares was notably higher than subsequent days, suggesting initial investor interest possibly driven by anticipation of upcoming quarterly results.
Tuesday, 10 February: Profit Taking Leads to Mild Decline
The stock retreated 0.56% to Rs.205.90 on low volume of 134 shares, underperforming the Sensex’s modest 0.25% rise. This dip likely reflected short-term profit booking after Monday’s gains, with investors awaiting clearer signals from the company’s financial disclosures.
Wednesday, 11 February: Strong Rebound on Improving Sentiment
Elegant Marbles rebounded sharply, gaining 1.87% to Rs.209.75, surpassing the Sensex’s 0.13% increase. The volume picked up to 694 shares, indicating renewed buying interest. This move suggested growing confidence ahead of the quarterly results announcement, as the stock approached its weekly high.
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Thursday, 12 February: Stability Amid Market Weakness
The stock price was virtually unchanged at Rs.209.80 (+0.02%) despite the Sensex falling 0.56% to 37,049.40. The low volume of 99 shares indicated subdued trading activity. This stability suggested investors were holding positions ahead of the earnings release, showing resilience despite broader market weakness.
Friday, 13 February: Q3 Results Reveal Revenue Growth but Margin Concerns Trigger Sell-Off
Elegant Marbles reported its highest-ever quarterly net sales of ₹10.74 crores for Q3 FY26, marking a positive shift from previous stagnant quarters. The company’s financial trend score improved sharply to +6 from -4, reflecting operational momentum despite inflationary pressures on raw materials and logistics.
However, the stock declined 2.62% to close at Rs.204.30 on volume of 692 shares, underperforming the Sensex’s 1.40% drop. The decline was attributed to concerns over margin erosion highlighted in the earnings commentary, which tempered enthusiasm over the revenue surge. The intraday range between Rs.201.20 and Rs.214.00 underscored volatility as investors digested mixed signals.
Elegant Marbles’ MarketsMOJO score remains at 26.0, categorised as a Strong Sell, reflecting cautious analyst sentiment despite recent improvements. The downgrade from a previous Sell rating underscores ongoing concerns about valuation and growth sustainability amid sector headwinds.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.207.05 | +1.22% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.205.90 | -0.56% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.209.75 | +1.87% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.209.80 | +0.02% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.204.30 | -2.62% | 36,532.48 | -1.40% |
Key Takeaways from the Week
Positive Signals: The company’s highest quarterly net sales of ₹10.74 crores and a marked improvement in financial trend score to +6 indicate a turnaround in operational momentum. The stock’s ability to outperform the Sensex marginally over the week despite sector challenges reflects underlying resilience.
Cautionary Notes: Margin erosion concerns highlighted in the Q3 results weighed on the stock price, contributing to a 2.62% decline on the day of the announcement. The MarketsMOJO Strong Sell rating and downgrade from Sell signal persistent valuation and growth sustainability risks. Low trading volumes on some days suggest limited liquidity and investor hesitation.
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Conclusion
Elegant Marbles and Grani Industries Ltd experienced a week of mixed performance, closing slightly down by 0.12% while outperforming the broader Sensex decline of 0.54%. The company’s Q3 FY26 results showcased a significant revenue surge, marking a positive shift in its financial trajectory. However, margin erosion concerns and a cautious analyst outlook capped upside potential and triggered a sell-off on the final trading day.
Investors should monitor the company’s ability to sustain revenue growth while addressing margin pressures amid a challenging sector environment. The current Strong Sell rating and modest market capitalisation grade highlight ongoing risks despite operational improvements. Overall, the week underscored the delicate balance between emerging positive fundamentals and persistent valuation concerns for Elegant Marbles.
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