Key Events This Week
19 Jan: Bearish momentum confirmed amid technical downturn
20 Jan: Stock hits 52-week low at Rs.2,087.55
21 Jan: Further 52-week low at Rs.2,081.80 despite Sensex rebound
22 Jan: Significant open interest surge amid mixed market signals
23 Jan: Week closes at Rs.2,102.75, down 2.10% on the day
19 January 2026: Bearish Momentum Takes Hold
Mankind Pharma Ltd began the week under pressure, with its stock price falling 2.68% to close at Rs.2,117.85, amid a broader market decline. Technical indicators signalled a bearish trend, with the Mojo Grade downgraded from Hold to Sell and the Mojo Score at a weak 38.0. The stock traded below key moving averages and showed negative momentum on weekly MACD and Bollinger Bands, signalling increased downside risk. The Sensex also declined by 0.49%, reflecting a cautious market environment.
20 January 2026: New 52-Week Low Amid Sector Weakness
The downtrend intensified as Mankind Pharma’s share price dropped to a fresh 52-week low of Rs.2,087.55, a 1.13% decline on the day. This marked the third consecutive day of losses, with a cumulative fall of 5.73%. Despite the stock outperforming its Pharmaceuticals & Biotechnology sector by 0.53%, it remained below all major moving averages, underscoring sustained bearish momentum. The Sensex fell sharply by 1.82%, continuing its three-week losing streak. Financial results released recently showed flat quarterly earnings and a 20.05% decline in profit after tax over six months, contributing to investor caution.
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21 January 2026: Further Decline Despite Market Recovery
The stock continued its slide, hitting a new 52-week low of Rs.2,081.80, down 1.03% on the day. This decline contrasted with a modest Sensex gain of 0.18%, driven by mega-cap stocks, highlighting Mankind Pharma’s relative weakness. The stock underperformed its sector by 1.02%, remaining below all key moving averages. The company’s financial metrics, including a low ROCE of 12.33% and rising interest expenses up 122.24%, weighed on sentiment. Institutional holdings at 24.59% provide some stability, but the downgrade to a Sell rating and weak market capitalisation grade of 1 reflect ongoing challenges.
22 January 2026: Surge in Open Interest Amid Mixed Signals
Market activity in Mankind Pharma’s derivatives segment intensified, with open interest rising 11.23% to 19,997 contracts and volume reaching 12,558 contracts. The futures and options notional value combined approached ₹38,966.30 lakhs, signalling heightened investor engagement. The stock price rose 2.28% to Rs.2,147.80, outperforming the sector’s 1.45% gain and the Sensex’s 0.76% increase. Despite this short-term strength, the stock remained below all major moving averages, indicating the longer-term downtrend persists. Delivery volumes increased by 20.74%, suggesting genuine investor interest rather than speculative trading. The mixed signals reflect a market balancing between potential rebound bets and protective hedging amid bearish fundamentals.
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23 January 2026: Week Ends on a Weak Note
The week concluded with Mankind Pharma’s stock falling 2.10% to Rs.2,102.75, closing near the week’s lows. The Sensex also declined by 1.33%, reflecting continued market caution. The stock’s weekly performance of -3.37% slightly underperformed the Sensex’s -3.31%, confirming the persistent bearish trend. The combination of weak earnings, rising interest costs, and technical indicators below key averages continues to weigh on the stock. Despite the short-term open interest surge and occasional price upticks, the overall momentum remains negative heading into the next week.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.2,117.85 | -2.68% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.2,123.90 | +0.29% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.2,099.85 | -1.13% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.2,147.80 | +2.28% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.2,102.75 | -2.10% | 35,609.90 | -1.33% |
Key Takeaways
Bearish Technical Momentum: The downgrade to a Sell Mojo Grade and a low Mojo Score of 38.0 reflect weakening technical conditions. The stock’s consistent trading below all major moving averages confirms the prevailing downtrend.
52-Week Lows and Earnings Pressure: Consecutive 52-week lows at Rs.2,087.55 and Rs.2,081.80 highlight sustained selling pressure. Subdued earnings growth, rising interest expenses, and a low ROCE of 12.33% have contributed to negative sentiment.
Derivatives Market Activity: The 11.23% surge in open interest and increased volumes on 22 January indicate heightened market participation and mixed positioning, with both speculative and hedging activity evident.
Relative Performance: The stock marginally underperformed the Sensex’s 3.31% weekly decline, closing the week down 3.37%. This underperformance underscores company-specific challenges amid broader market weakness.
Conclusion
Mankind Pharma Ltd’s performance over the week ending 23 January 2026 was characterised by persistent bearish momentum, reflected in multiple 52-week lows and a downgrade to a Sell rating. Despite a brief rebound on 22 January supported by increased derivatives activity, the stock remained technically weak and underperformed the benchmark Sensex. Financial pressures from flat earnings and rising interest costs continue to weigh on investor sentiment. While institutional holdings and operational efficiency metrics provide some stability, the overall outlook remains cautious. Investors should monitor evolving price action and open interest trends closely for clearer directional signals in the coming weeks.
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