Key Events This Week
23 Feb: Stock opens at Rs.1,144.90 with a 1.06% gain
24 Feb: Continued gains despite Sensex decline; Rs.1,154.55 close
25 Feb: Mojo Grade upgraded to Hold; technical momentum shifts to sideways
26 Feb: Mildly bearish technical signals emerge; stock closes Rs.1,149.20
27 Feb: Technical momentum returns to sideways; stock closes Rs.1,163.70 (+1.26%)
Monday, 23 February: Strong Start Amid Positive Market Sentiment
Inox India Ltd began the week on a positive note, closing at Rs.1,144.90, up 1.06% from the previous Friday’s close of Rs.1,132.85. This gain outpaced the Sensex’s 0.39% rise to 36,817.86, signalling early investor confidence. The volume of 2,992 shares traded indicated moderate participation as the stock set the tone for the week.
Tuesday, 24 February: Gains Continue Despite Broader Market Weakness
The stock extended its rally, closing at Rs.1,154.55, a 0.84% increase, even as the Sensex fell 0.78% to 36,530.09. This divergence highlighted Inox India’s relative strength amid a weakening market. Trading volume rose to 3,775 shares, reflecting increased investor interest ahead of the upcoming rating update.
Wednesday, 25 February: Mojo Grade Upgrade to Hold Spurs Confidence
MarketsMOJO upgraded Inox India Ltd’s rating from Sell to Hold on 24 February, citing improved technical indicators and financial performance. The stock closed at Rs.1,145.50 on 25 February, down 0.78% intraday but still reflecting a consolidation phase. The upgrade was driven by a shift in technical momentum from mildly bearish to sideways, supported by a mildly bullish weekly MACD and bullish Bollinger Bands on weekly and monthly charts.
Financially, the company reported its highest quarterly net sales of ₹428.56 crores and a peak PBDIT of ₹93.55 crores in Q3 FY25-26, underpinning the positive outlook. The stock’s one-year return of 28.38% significantly outperformed the BSE500’s 13.47%, reinforcing the upgrade rationale. Institutional investors increased their stake to 14.41%, signalling growing confidence.
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Thursday, 26 February: Technical Momentum Turns Mildly Bearish
The stock experienced a subtle shift to a mildly bearish technical momentum, closing at Rs.1,149.20, up 0.32% from the previous day’s close. Despite the gain, daily moving averages indicated a bearish trend, and the Know Sure Thing (KST) oscillator signalled caution. The stock traded within a range of Rs.1,138.10 to Rs.1,161.05, remaining below its 52-week high of Rs.1,289.00 but well above the 52-week low of Rs.890.65.
Volume surged to 5,209 shares, suggesting active trading amid mixed signals. The weekly MACD remained mildly bullish, but monthly MACD and Dow Theory assessments showed neutral to mildly bearish trends. On-Balance Volume (OBV) was bullish on the monthly scale, indicating longer-term accumulation despite short-term caution.
Friday, 27 February: Technical Momentum Reverts to Sideways, Week Ends on a High
Inox India Ltd closed the week at Rs.1,163.70, a strong 1.26% gain on the day and a 2.72% rise for the week, outperforming the Sensex’s 0.96% decline. Technical momentum shifted back to sideways, supported by bullish Bollinger Bands on weekly and monthly charts and a mildly bullish weekly MACD. However, daily moving averages remained mildly bearish, reflecting ongoing short-term caution.
The stock traded between Rs.1,140.15 and Rs.1,160.40, maintaining a consolidation phase below its 52-week high. The Mojo Score of 54.0 and Hold rating reflect a balanced outlook, with investors advised to monitor momentum indicators for confirmation of a sustained trend.
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Daily Price Performance Compared to Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.1,144.90 | +1.06% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.1,154.55 | +0.84% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.1,145.50 | -0.78% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.1,149.20 | +0.32% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.1,163.70 | +1.26% | 36,322.56 | -1.16% |
Key Takeaways
Positive Signals: The upgrade to a Hold rating by MarketsMOJO reflects improved technical momentum and solid financial performance, including record quarterly sales and strong operational metrics. The stock’s outperformance relative to the Sensex over multiple timeframes highlights its resilience and investor appeal. Monthly On-Balance Volume trends suggest accumulation, supporting a potential base-building phase.
Cautionary Notes: Mixed technical indicators, including mildly bearish daily moving averages and bearish weekly KST readings, suggest short-term volatility and the need for confirmation of sustained upward momentum. The stock’s valuation remains elevated, with a Price to Book ratio of 10.7, requiring continued strong performance to justify current levels. Investors should monitor key support levels near Rs.1,130 and resistance near the 52-week high of Rs.1,289.
Conclusion
Inox India Ltd’s week was characterised by a positive price trajectory and a significant upgrade in its technical rating to Hold, signalling a stabilising outlook after a period of bearish pressure. The stock’s ability to outperform the Sensex amid mixed market conditions underscores its relative strength. While short-term technical signals advise caution, longer-term volume trends and financial fundamentals provide a supportive backdrop. Investors should watch for confirmation of momentum shifts and volume support to gauge the stock’s next directional move within the Other Industrial Products sector.
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