Inox Green Energy Services Ltd Gains 2.03%: Mixed Technical Signals Shape Weekly Momentum

2 February 2026: Downgrade to Strong Sell Highlights Underlying Risks

Inox Green Energy Services Ltd was downgraded to a Strong Sell rating by MarketsMOJO on 2 February 2026, reflecting a deterioration in both technical outlook and fundamental metrics. The company’s Mojo Score fell to 29.0, signalling heightened investor caution. Despite a positive quarterly performance with a 52.79% increase in net sales and a 190.4% rise in profit after tax, the stock’s long-term fundamentals remain weak. Operating profit growth has been deeply negative over five years, with a CAGR of -248.34%, and the company struggles with debt servicing, evidenced by a negative EBIT to interest coverage ratio of -0.15.

This downgrade came amid volatile price action, with the stock trading between Rs.163.00 and Rs.175.95 on the day, closing lower by 0.06%. The rating reflects concerns over sustainability of recent gains and elevated valuation metrics, including a PEG ratio of 1.8, which suggests the stock is trading at a premium relative to its earnings growth potential.

3 February 2026: Strong Gap Up Reflects Positive Market Sentiment

The stock opened sharply higher on 3 February 2026, surging 7.01% above the previous close to open at Rs.176.50. Intraday, it reached a high of Rs.185.00, marking an 8.92% increase from the prior day’s close. The day ended with a 3.92% gain, outperforming the Sensex’s 2.63% rise. This gap up was driven by positive sentiment in the renewable energy sector, which gained 3.36% on the day, and short-term buying interest despite the recent downgrade.

Technical indicators on this day were mixed. The stock traded above its 5-day moving average but remained below longer-term averages, indicating resistance at higher levels. The high beta nature of the stock (adjusted beta 1.54) contributed to the pronounced price swings. Despite the intraday strength, the overall technical outlook remained cautious, with weekly MACD bearish and Bollinger Bands signalling downside risk.

3 February 2026: Technical Momentum Shifts to Sideways Amid Mixed Signals

Later on 3 February, technical analysis revealed a shift from a mildly bearish to a sideways trend. The stock closed at Rs.169.85, up 2.38% intraday but still below key resistance levels. Weekly MACD remained bearish, while the weekly RSI turned bullish, indicating improving short-term momentum. Bollinger Bands on weekly and monthly charts remained bearish, suggesting price volatility skewed to the downside.

The Know Sure Thing (KST) indicator was mildly bullish weekly but inconclusive monthly. Dow Theory assessments and On-Balance Volume (OBV) showed no clear trend, reflecting market indecision. This sideways consolidation phase suggested that the stock was in a holding pattern, awaiting clearer directional cues.

5 February 2026: Mixed Technical Signals Amid Mild Bullish Momentum

On 5 February, Inox Green Energy Services Ltd showed a subtle shift from sideways to mildly bullish momentum. The stock closed at Rs.176.80, down 1.75% on the day but reflecting a 0.79% gain from the previous close of Rs.176.50 earlier in the session. The weekly return stood at 4.71%, outperforming the Sensex’s 1.79% gain over the same period.

Technical indicators remained mixed. The weekly MACD was still bearish, while the monthly MACD was mildly bearish. The weekly RSI turned bullish, signalling increased buying pressure, but Bollinger Bands were mildly bearish weekly and bullish monthly, indicating conflicting volatility signals. Daily moving averages shifted to mildly bullish, supporting short-term upward momentum, though weekly OBV remained mildly bearish, suggesting volume trends had yet to confirm price gains.

Despite these pockets of strength, the stock’s Mojo Score remained at 29.0 with a Strong Sell rating, reflecting ongoing fundamental and technical challenges. The stock’s price of Rs.176.80 remained well below its 52-week high of Rs.279.00, highlighting significant volatility and resistance levels.

6 February 2026: Week Closes with Slight Pullback Amid Volatility

The week concluded on 6 February with the stock closing at Rs.173.40, down 1.92% on the day. This pullback followed two days of declines after the midweek highs. The Sensex closed marginally higher by 0.10%, indicating relative weakness in the stock’s performance on the final trading day.

Volume remained subdued at 18,946 shares, reflecting cautious investor sentiment. The stock’s weekly gain of 2.03% outpaced the Sensex’s 1.51% rise, but the late-week decline underscored ongoing uncertainty amid mixed technical signals and fundamental concerns. The stock remains in a consolidation phase, with resistance near Rs.185 and support around Rs.170.

Key Takeaways

Inox Green Energy Services Ltd’s week was characterised by a modest 2.03% gain, outperforming the Sensex’s 1.51% rise. The stock’s strong gap up on 3 February highlighted short-term positive sentiment, supported by sectoral strength in renewable energy. However, the downgrade to a Strong Sell rating and mixed technical indicators underscored persistent fundamental and momentum challenges.

Technical momentum shifted from mildly bearish to sideways early in the week, then to mildly bullish by 5 February, though key indicators such as weekly MACD and Bollinger Bands remained cautious. The stock’s elevated beta contributed to volatility, with intraday swings exceeding broader market moves.

Despite recent quarterly financial improvements, long-term operating profit declines and weak debt servicing capacity continue to weigh on the stock’s outlook. The current price remains well below the 52-week high, indicating significant resistance levels. Investors should note the mixed signals and elevated risk profile reflected in the Strong Sell Mojo Grade.

Conclusion

Inox Green Energy Services Ltd’s performance over the week ending 6 February 2026 reflects a complex interplay of short-term optimism and longer-term caution. While the stock outperformed the Sensex and showed pockets of bullish momentum, the downgrade to Strong Sell and mixed technical signals highlight ongoing risks. The gap up and intraday highs demonstrated the stock’s potential for volatility-driven gains, but resistance at higher levels and fundamental weaknesses temper enthusiasm.

Overall, the stock remains in a consolidation phase with uncertain directional bias. Investors should monitor technical developments closely and consider the company’s fundamental challenges before making decisions. The week’s events underscore the importance of balancing short-term price action with a comprehensive assessment of financial health and market context.

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