Manaksia Aluminium Drops 2.85% Amid Volatile Week Marked by Circuit Hits

16 February: Sharp Decline to Lower Circuit Amid Heavy Selling

Manaksia Aluminium opened the week on a weak note, plunging 4.98% to Rs.28.65 and hitting the lower circuit limit due to intense selling pressure. This marked the third consecutive day of losses, with the stock down nearly 15% over that period. The intraday low of Rs.28.56 triggered the circuit breaker, halting further declines. Despite the broader Sensex gaining 0.70% and the non-ferrous metals sector falling only 1.18%, Manaksia Aluminium’s underperformance was stark.

Trading volumes were moderate at 24,777 shares, with turnover around Rs.0.18 crore. The weighted average price indicated that most trades occurred near the day’s low, signalling aggressive selling. The stock remained below all key moving averages, reinforcing the downtrend. Delivery volumes had sharply declined, reflecting waning investor participation and possible panic selling. The downgrade to a Hold rating with a Mojo Score of 58.0 has yet to restore confidence.

17 February: Rebound to Upper Circuit on Strong Buying Interest

Following the steep fall, Manaksia Aluminium staged a robust recovery on 17 February, surging 4.97% to close at Rs.29.98, hitting the upper circuit limit. The stock opened lower at Rs.27.26 but rallied strongly throughout the session, reflecting renewed investor optimism. This rebound was notable given the non-ferrous metals sector declined 1.94% and the Sensex was nearly flat at +0.32%.

Volume expanded significantly to 23,748 shares traded, with turnover of Rs.0.45 crore. Despite the rally, delivery volumes remained subdued, down 62.92% from the five-day average, indicating cautious participation. The stock’s position below all major moving averages suggests the rally may be a short-term bounce rather than a sustained uptrend. The regulatory freeze on further buying due to the upper circuit hit created unfilled demand, potentially setting the stage for further volatility.

18 February: Moderate Gains Amid Increased Volume

On 18 February, Manaksia Aluminium continued its upward momentum, gaining 2.19% to close at Rs.30.74, the highest price of the week. This move was supported by increased trading volumes of 33,404 shares, indicating stronger investor interest. The Sensex also advanced 0.43%, while the non-ferrous metals sector showed modest strength.

Despite the gains, the stock remained below all key moving averages, signalling that the longer-term downtrend persists. Delivery volumes, however, remained below average, suggesting that the rally was driven more by short-term traders than long-term holders. The stock’s market capitalisation remained modest at approximately Rs.181 crore, consistent with its micro-cap status.

19 February: Another Lower Circuit Amid Panic Selling

Manaksia Aluminium’s volatility returned on 19 February as the stock plunged 4.81% to Rs.29.31, hitting the lower circuit limit once again. The day’s low was Rs.29.26, with the stock closing near the bottom of its intraday range. This sharp decline contrasted with a 1.00% gain in the non-ferrous metals sector and a marginal 0.13% drop in the Sensex, highlighting company-specific selling pressure.

Trading volume surged to 34,273 shares, but delivery volumes dropped 47.57% compared to the five-day average, indicating reduced investor conviction. The stock’s technical position remained weak, trading below all major moving averages. Panic selling and unfilled supply dominated the session, with the lower circuit hit preventing further price discovery below the limit.

The Mojo Score of 58.0 and Hold rating, upgraded from Sell earlier in January, have yet to translate into sustained buying interest. The micro-cap nature of the stock continues to expose it to sharp price swings and volatility.

20 February: Week Ends with Marginal Gain

The final trading day saw a modest recovery, with Manaksia Aluminium edging up 0.27% to close at Rs.29.29 on relatively lower volume of 18,164 shares. The Sensex gained 0.41%, reflecting a broadly positive market environment. Despite the slight uptick, the stock ended the week down 2.85% from the previous Friday’s close of Rs.30.15.

The subdued volume and limited price movement suggest investors remain cautious amid the stock’s recent volatility and technical weakness. The micro-cap status and ongoing sectoral pressures continue to weigh on sentiment.

Key Takeaways

Manaksia Aluminium’s week was marked by extreme volatility, with two lower circuit hits and one upper circuit surge, reflecting a battle between heavy selling and strong buying interest. The stock’s 2.85% weekly decline contrasts with the Sensex’s 0.39% gain, indicating company-specific challenges amid a generally stable market.

The persistent trading below all major moving averages signals a sustained downtrend, while declining delivery volumes highlight reduced long-term investor conviction. The upgrade to a Hold rating with a Mojo Score of 58.0 suggests some fundamental stabilisation but has not yet translated into consistent buying momentum.

Investors should note the micro-cap nature of the stock, which contributes to heightened price swings and liquidity constraints. The regulatory freezes triggered by circuit hits create unfilled demand or supply, adding to short-term volatility. Sectoral headwinds in non-ferrous metals and global commodity price fluctuations remain relevant factors.

Conclusion

Manaksia Aluminium Company Ltd’s trading activity during the week of 16–20 February 2026 underscores the challenges faced by micro-cap stocks in volatile sectors. The sharp swings between lower and upper circuit limits reflect investor uncertainty and a fragile technical setup. While the Hold rating and Mojo Score indicate some improvement in fundamentals, the stock remains vulnerable to further downside without clear positive catalysts.

Market participants should approach the stock with caution, monitoring upcoming corporate announcements and sector developments closely. The week’s price action serves as a reminder of the risks inherent in micro-cap investing, especially within cyclical industries such as non-ferrous metals.

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