Current Price and Trading Range
As of 6 February 2026, Kennametal India Ltd closed at ₹2,132.00, up from the previous close of ₹2,112.95. The stock traded within a range of ₹2,100.00 to ₹2,165.00 during the session, reflecting moderate intraday volatility. The 52-week high stands at ₹2,745.10, while the 52-week low is ₹1,932.10, indicating that the current price remains closer to the lower end of its annual range. This positioning suggests that while the stock has recovered somewhat from its lows, it has yet to regain the momentum needed to challenge recent highs.
Technical Trend and Indicator Analysis
Kennametal India’s technical trend has shifted from bearish to mildly bearish, signalling a tentative improvement in price momentum but still reflecting caution. The Moving Average Convergence Divergence (MACD) indicator remains bearish on both weekly and monthly timeframes, underscoring persistent downward pressure in the medium to long term. This is corroborated by the Know Sure Thing (KST) oscillator, which also signals bearish momentum across weekly and monthly charts.
The Relative Strength Index (RSI) offers a neutral stance, with no clear signals on weekly or monthly charts. This suggests that the stock is neither overbought nor oversold, leaving room for potential directional moves depending on broader market catalysts. Meanwhile, Bollinger Bands present a mixed view: weekly charts show bullish tendencies, indicating price support near the lower band and potential for upward movement, whereas monthly charts remain mildly bearish, reflecting longer-term volatility and uncertainty.
Daily moving averages are mildly bearish, indicating that short-term price action is still under pressure despite recent gains. The Dow Theory analysis reveals no definitive trend on the weekly scale but mildly bearish signals on the monthly scale, reinforcing the cautious outlook for investors.
Volume and On-Balance Volume (OBV) Insights
While specific On-Balance Volume (OBV) data is not available for this period, the absence of strong volume confirmation alongside price movements suggests that recent gains may lack robust institutional support. This is a critical factor for technical analysts, as volume trends often validate or negate price momentum signals.
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Comparative Performance Versus Sensex
Examining Kennametal India’s returns relative to the benchmark Sensex index reveals a mixed performance profile. Over the past week, the stock outperformed the Sensex with a 6.59% gain compared to the index’s 0.91%. This short-term strength, however, is tempered by longer-term underperformance. Over the past month, Kennametal India rose by 1.10%, while the Sensex declined by 2.49%. Year-to-date returns show a modest 1.76% gain for the stock against a 2.24% fall in the Sensex.
On a one-year horizon, the stock has declined by 11.13%, contrasting with the Sensex’s 6.44% gain, signalling challenges in maintaining momentum over extended periods. The three-year return is nearly flat at -0.24%, while the Sensex has surged 36.94% in the same timeframe. However, over five and ten years, Kennametal India has delivered impressive cumulative returns of 119.91% and 198.18%, respectively, albeit trailing the Sensex’s 64.22% and 238.44% gains. This long-term outperformance relative to the Sensex’s five-year return highlights the stock’s potential value for patient investors.
Implications for Investors
The current technical signals suggest that Kennametal India is navigating a transitional phase. The mildly bearish trend indicates that while the stock is no longer in a pronounced downtrend, it has yet to establish a clear bullish trajectory. Investors should be cautious, particularly given the bearish MACD and KST indicators on weekly and monthly charts, which imply that medium- and long-term momentum remains subdued.
Short-term traders may find opportunities in the weekly Bollinger Bands’ bullish signals and the stock’s recent outperformance relative to the Sensex. However, the lack of strong volume confirmation and the mildly bearish daily moving averages counsel prudence. The neutral RSI readings further reinforce the need for confirmation from other technical or fundamental catalysts before committing to a bullish stance.
Sector and Industry Context
Kennametal India operates within the industrial manufacturing sector, a space often sensitive to macroeconomic cycles and capital expenditure trends. The company’s technical profile should be analysed alongside sectoral momentum and broader economic indicators. Given the current mixed technical signals, investors may consider diversifying exposure within the sector or exploring alternative industrial manufacturing stocks with stronger momentum or more favourable technical grades.
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Mojo Score and Rating Update
MarketsMOJO’s latest assessment downgraded Kennametal India Ltd from a Hold to a Sell rating on 5 February 2026, reflecting the deteriorating technical and fundamental outlook. The company’s Mojo Score stands at 44.0, a level that signals caution for investors. The Market Cap Grade is 3, indicating a mid-tier capitalisation status within the industrial manufacturing sector. This downgrade aligns with the technical indicators’ bearish bias and the stock’s recent underperformance relative to broader market benchmarks.
Conclusion
Kennametal India Ltd’s technical momentum is currently characterised by a mild bearishness, with key indicators such as MACD and KST signalling caution on weekly and monthly timeframes. While short-term signals like weekly Bollinger Bands and recent price gains offer some optimism, the overall technical landscape advises prudence. Investors should weigh these mixed signals against the company’s long-term performance and sectoral trends before making investment decisions. The recent downgrade to a Sell rating by MarketsMOJO further emphasises the need for careful analysis and consideration of alternative opportunities within the industrial manufacturing space.
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