Intraday Price Movement and Trading Range
On the trading day, Manaksia Steels touched an intraday high of ₹77.78, marking a new 52-week peak for the stock. The price fluctuated within a wide band of ₹7.91, with the low recorded at ₹69.87. The upper circuit hit represents the maximum permissible daily price movement, signalling intense demand that prevented further price appreciation beyond this threshold.
The stock’s weighted average price indicates that a substantial volume of shares exchanged hands closer to the lower end of the day’s range, suggesting that early buying interest was met with some profit-taking before renewed demand pushed prices to the upper limit.
Volume and Liquidity Dynamics
Trading volumes for Manaksia Steels were robust, with a total of approximately 3.52 lakh shares changing hands, translating to a turnover of ₹2.68 crore. Notably, the delivery volume on 22 Dec 2025 surged to 1.46 lakh shares, a rise of 448.65% compared to the five-day average delivery volume. This sharp increase in delivery volumes points to a growing number of investors holding shares rather than engaging in intraday trades, reflecting confidence in the stock’s medium-term prospects.
Liquidity metrics confirm that the stock is sufficiently liquid to accommodate trades of ₹0.01 crore without significant price impact, an important consideration for investors seeking to enter or exit positions efficiently.
Performance Relative to Sector and Market Benchmarks
Manaksia Steels outperformed the ferrous metals sector by 8.23% on the day, registering a one-day return of 9.08% compared to the sector’s 0.69%. The benchmark Sensex index remained largely flat, with a marginal gain of 0.02%, underscoring the stock’s relative strength amid subdued broader market conditions.
The stock has been on a consistent upward trajectory, recording gains over the last four consecutive trading sessions. During this period, Manaksia Steels delivered a cumulative return of 34.29%, signalling sustained investor interest and positive market sentiment towards the company’s prospects.
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Technical Indicators and Moving Averages
Manaksia Steels is trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning often indicates a bullish trend, as the stock price remains elevated relative to its recent and longer-term historical levels. Such alignment of moving averages can attract momentum-driven investors and traders looking for confirmation of strength.
Market Capitalisation and Sector Context
With a market capitalisation of approximately ₹482 crore, Manaksia Steels is classified as a micro-cap stock within the ferrous metals industry. The sector itself is sensitive to global commodity prices, demand from infrastructure and manufacturing, and domestic economic conditions. The recent price action suggests that investors are factoring in favourable outlooks or company-specific developments that could support earnings growth or operational improvements.
Regulatory Freeze and Unfilled Demand
The stock’s upper circuit hit triggered an automatic regulatory freeze on further buying, a mechanism designed to curb excessive volatility and ensure orderly market functioning. This freeze indicates that the demand for Manaksia Steels shares exceeded the available supply at the upper price limit, leaving a portion of buy orders unfilled. Such scenarios often reflect strong market enthusiasm but also caution investors about potential short-term supply constraints.
Investor Participation and Delivery Trends
The surge in delivery volume is a noteworthy development, as it signals that a growing number of investors are opting to take actual delivery of shares rather than engaging in speculative intraday trades. This trend can be interpreted as a sign of confidence in the company’s fundamentals or expectations of further price appreciation. It also contributes to reduced volatility by increasing the shareholding base of long-term investors.
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Outlook and Considerations for Investors
While the recent price action of Manaksia Steels demonstrates strong market interest and momentum, investors should consider the broader context of the ferrous metals sector and the company’s micro-cap status. The sector’s cyclical nature means that external factors such as raw material costs, government policies, and global demand can influence future performance.
Moreover, the regulatory freeze following the upper circuit hit highlights the importance of liquidity and supply-demand dynamics in the stock’s trading behaviour. Investors looking to participate should be mindful of potential volatility and the possibility of unfilled orders during such episodes.
Technical indicators currently support a positive trend, but prudent analysis of fundamental factors and market conditions remains essential for informed decision-making.
Summary
Manaksia Steels Ltd’s trading session on 23 Dec 2025 was marked by a decisive upper circuit hit at ₹77.00, reflecting robust buying pressure and strong investor participation. The stock outperformed its sector and the broader market, supported by increased delivery volumes and favourable technical positioning. However, the regulatory freeze and unfilled demand underscore the need for cautious engagement amid heightened volatility. As the ferrous metals sector navigates complex market dynamics, Manaksia Steels remains a stock to watch for its recent momentum and evolving market assessment.
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