Key Events This Week
16 Feb: Stock opens at Rs.1,418.85 with a 0.42% gain
17 Feb: Mojo Grade upgraded to Buy reflecting strong fundamentals
18 Feb: Technical momentum shifts to mildly bullish; stock closes at Rs.1,418.60 (-0.10%)
19 Feb: Sharp intraday rally to Rs.1,438.55 (+1.41%) despite Sensex decline
20 Feb: Week closes at Rs.1,418.90, down 1.37% on the day but up for the week
Monday, 16 February 2026: Steady Start Amid Positive Market Sentiment
Manorama Industries began the week on a positive note, closing at Rs.1,418.85, up 0.42% from the previous Friday’s close of Rs.1,412.95. This gain was slightly below the Sensex’s 0.70% rise to 36,787.89, reflecting cautious optimism among investors. The volume of 2,241 shares traded indicated moderate interest, setting a stable foundation for the week ahead.
Tuesday, 17 February 2026: Upgrade to Buy Rating Boosts Confidence
The pivotal event of the week occurred on 17 February when MarketsMOJO upgraded Manorama Industries Ltd’s Mojo Grade from Hold to Buy, assigning a Mojo Score of 71.0. This upgrade was driven by strong quarterly financial results, including a 53.54% annualised growth in net sales and a 70.22% surge in operating profit. The company’s Return on Capital Employed (ROCE) stood at an impressive 17.22%, underscoring efficient capital utilisation.
Despite a relatively expensive valuation with an EV/CE ratio of 9.9, the stock’s PEG ratio of 0.2 suggested undervaluation relative to its rapid profit growth of 162.5% over the past year. The upgrade reflected a comprehensive improvement in quality, valuation, financial trends, and technical indicators, positioning the stock favourably within the FMCG sector.
On this day, the stock closed marginally higher at Rs.1,420.00, up 0.08%, while the Sensex gained 0.32% to 36,904.38. The upgrade likely contributed to stabilising the stock price amid broader market gains.
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Wednesday, 18 February 2026: Technical Momentum Shifts to Mildly Bullish
On 18 February, the stock experienced a slight dip, closing at Rs.1,418.60, down 0.10% on low volume of 814 shares. Despite the minor decline, technical indicators signalled a meaningful shift in momentum. The stock’s trend moved from sideways to mildly bullish, supported by weekly MACD and Bollinger Bands showing positive momentum, while monthly indicators presented a mixed but cautiously optimistic outlook.
The stock traded within a range of Rs.1,412.05 to Rs.1,443.35 during the session, reflecting moderate intraday volatility. The RSI remained neutral, indicating no immediate overbought or oversold conditions. Dow Theory readings on weekly and monthly charts confirmed a mildly bullish stance, suggesting strengthening medium-term trends despite some short-term caution.
The Sensex closed higher by 0.43% at 37,062.35, contrasting with the stock’s slight decline, highlighting a divergence between broader market strength and stock-specific consolidation.
Thursday, 19 February 2026: Strong Rally Amid Market Weakness
Manorama Industries bucked the broader market trend on 19 February, surging 1.41% to close at Rs.1,438.55 on robust volume of 7,372 shares. This rally occurred despite the Sensex falling sharply by 1.45% to 36,523.88, underscoring the stock’s relative strength and positive investor sentiment following the recent upgrade and technical momentum shift.
The intraday high of Rs.1,443.35 marked the week’s peak price, reflecting renewed buying interest. This performance highlighted the stock’s ability to attract demand even as the broader market faced selling pressure, reinforcing the bullish technical signals observed earlier in the week.
Friday, 20 February 2026: Profit-Taking and Weekly Close
The week concluded with a 1.37% decline in Manorama Industries’ share price to Rs.1,418.90 on volume of 3,175 shares. This pullback followed the strong rally of the previous day and coincided with a modest 0.41% gain in the Sensex to 36,674.32. The daily moving averages showed a mildly bearish short-term outlook, suggesting some profit-taking or consolidation after the midweek surge.
Despite the day’s decline, the stock ended the week with a net gain of 0.42%, slightly outperforming the Sensex’s 0.39% rise. The week’s price action reflected a balance between positive fundamental upgrades and cautious technical signals, with investors digesting the recent developments.
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Daily Price Comparison: Manorama Industries vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-16 | Rs.1,418.85 | +0.42% | 36,787.89 | +0.70% |
| 2026-02-17 | Rs.1,420.00 | +0.08% | 36,904.38 | +0.32% |
| 2026-02-18 | Rs.1,418.60 | -0.10% | 37,062.35 | +0.43% |
| 2026-02-19 | Rs.1,438.55 | +1.41% | 36,523.88 | -1.45% |
| 2026-02-20 | Rs.1,418.90 | -1.37% | 36,674.32 | +0.41% |
Key Takeaways
Positive Signals: The upgrade to a Buy rating by MarketsMOJO on 17 February was a major catalyst, reflecting strong financial performance with net sales growing at 53.54% annualised and operating profit surging 70.22%. The company’s efficient capital utilisation, demonstrated by a ROCE of 17.22%, and a low PEG ratio of 0.2, suggest attractive growth prospects relative to valuation.
The technical momentum shift to mildly bullish, supported by weekly MACD and Bollinger Bands, indicates strengthening medium-term trends. The stock’s ability to rally 1.41% on 19 February despite a Sensex decline of 1.45% highlights its relative strength and investor confidence.
Cautionary Signals: The stock’s valuation remains relatively high with an EV/CE ratio of 9.9, implying expectations of continued growth that may limit upside if not realised. Institutional shareholding declined slightly by 0.65% in the previous quarter, which could signal some reservation among sophisticated investors.
Short-term technical indicators, including daily moving averages and monthly MACD, show mixed or mildly bearish signals, suggesting potential volatility or consolidation in the near term. The slight price pullback on the final trading day of the week reflects this cautious stance.
Conclusion
Manorama Industries Ltd’s week was characterised by a modest 0.42% gain, marginally outperforming the Sensex’s 0.39% rise. The upgrade to a Buy rating and the shift to a mildly bullish technical momentum underpin a cautiously optimistic outlook. Strong quarterly financials and sustained long-term growth support the positive sentiment, while valuation and institutional participation warrant close monitoring.
The stock’s resilience amid mixed market conditions and its relative strength versus the benchmark index suggest it remains a noteworthy player within the FMCG sector. Investors should consider the balance of robust fundamentals and nuanced technical signals when assessing the stock’s near-term trajectory.
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