Manoj Vaibhav Gems N Jewellers Ltd Gains 8.20%: 3 Key Factors Driving the Weekly Move

09 February 2026: Sharp Rally on Upgrade to Hold Rating

Manoj Vaibhav Gems N Jewellers Ltd opened the week with a robust gain of 8.20%, closing at Rs.187.40 compared to the previous close of Rs.173.20. This surge was triggered by MarketsMOJO’s upgrade of the stock from 'Sell' to 'Hold' based on improved technical and financial metrics. The upgrade reflected a stabilising price momentum, with technical indicators such as Bollinger Bands turning bullish on the weekly timeframe and a mildly bullish Dow Theory signal. The stock’s valuation metrics, including a Return on Capital Employed (ROCE) of 14.4% and a PEG ratio of 0.5, supported the more positive outlook despite the stock’s underperformance over the past year.

Volume on this day was elevated at 22,534 shares, indicating strong investor interest following the rating change. The Sensex also gained 1.04%, closing at 37,113.23, but Manoj Vaibhav’s outperformance was notable.

10 February 2026: Mixed Technical Signals Amid Price Momentum Shift

The momentum continued on 10 February with the stock advancing another 2.24% to close at Rs.191.60, marking the week’s high. Intraday volatility was significant, with a range between Rs.177.00 and Rs.189.85, reflecting active trading and profit-taking attempts. Despite the gains, technical indicators presented a complex picture. The Moving Average Convergence Divergence (MACD) remained bearish on the weekly chart, while the Relative Strength Index (RSI) showed neutral readings, suggesting neither overbought nor oversold conditions.

Bollinger Bands on the weekly chart remained bullish, but monthly signals were mildly bearish, indicating potential resistance ahead. The Know Sure Thing (KST) indicator was bearish weekly, and On-Balance Volume (OBV) showed no clear trend, signalling a lack of volume confirmation for the price rise. The Mojo Score of 51.0 and the upgraded Hold rating reflected cautious optimism amid these mixed signals. The Sensex rose modestly by 0.25% to 37,207.34, but Manoj Vaibhav’s outperformance continued.

11 February 2026: Q3 FY26 Results Show Profit Surge but Revenue Dip

On 11 February, Manoj Vaibhav Gems N Jewellers Ltd reported its Q3 FY26 financial results, which revealed a notable surge in profit despite a dip in revenue. The company posted net sales of Rs.755.82 crores in Q2 FY25-26, reflecting a 26.3% increase compared to the previous four-quarter average, signalling operational improvement. Operating profit before depreciation, interest, and taxes (PBDIT) reached a quarterly high of Rs.55.43 crores, and the operating profit to interest coverage ratio improved to 5.90 times, indicating strong earnings quality and debt servicing capacity.

However, the stock price reacted negatively, falling 4.20% to close at Rs.183.55 amid concerns over margin pressures and the revenue dip. Volume was moderate at 11,589 shares. The Sensex closed marginally higher by 0.13% at 37,256.72, but Manoj Vaibhav underperformed on the day.

12-13 February 2026: Continued Price Correction and Declining Volumes

The stock experienced a steady decline over the last two trading days of the week. On 12 February, the price dropped 3.92% to Rs.176.35, with volume falling to 6,275 shares. The Sensex declined 0.56% to 37,049.40, reflecting broader market weakness. On 13 February, Manoj Vaibhav’s stock fell a further 2.07% to Rs.172.70 on thin volume of 3,058 shares, while the Sensex dropped 1.40% to 36,532.48.

This correction phase followed the earlier rally and was accompanied by subdued trading activity, suggesting profit-taking and cautious positioning by investors amid mixed technical signals and margin concerns highlighted in the quarterly results.

Daily Price Comparison: Manoj Vaibhav Gems N Jewellers Ltd vs Sensex

Key Takeaways

Positive Signals: The week began with a strong rally driven by an upgrade to Hold rating, reflecting improved technical and financial fundamentals. The company’s quarterly results showed a profit surge and robust operating profit to interest coverage ratio, signalling operational strength. The stock outperformed the Sensex for most of the week, highlighting relative resilience.

Cautionary Signals: Despite the initial gains, mixed technical indicators such as bearish MACD and KST, neutral RSI, and lack of volume confirmation suggest caution. The revenue dip in Q3 and subsequent price correction indicate margin pressures and profit-taking. The stock remains well below its 52-week high of Rs.280.80, and long-term growth remains subdued.

Volume Trends: Elevated volumes accompanied the early rally, but volumes declined sharply during the correction phase, indicating reduced investor conviction and possible consolidation.

Conclusion

Manoj Vaibhav Gems N Jewellers Ltd’s week was marked by a strong start on the back of a rating upgrade and encouraging quarterly profit growth, followed by a gradual correction amid mixed technical signals and margin concerns. The stock’s outperformance relative to the Sensex underscores its short-term resilience, but the technical and fundamental nuances advise a cautious stance. Investors should monitor upcoming quarterly updates and sector developments closely to assess whether the recent momentum can be sustained or if further consolidation is likely.

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