Key Events This Week
09 Feb: Stock surges 5.52% to Rs.122.30 on strong volume
10 Feb: Mixed technical signals emerge amid sideways momentum
12 Feb: Valuation shifts to expensive; Mojo Grade downgraded to Sell
13 Feb: Technical momentum shifts to sideways with mild bullish undertones
09 February: Strong Opening Rally Boosts Stock Above Rs.122
Menon Bearings Ltd began the week on a robust note, surging 5.52% to close at Rs.122.30 on 09 Feb 2026. This sharp gain was accompanied by a significant volume of 3,588 shares, signalling renewed investor interest. The stock outperformed the Sensex, which rose 1.04% to 37,113.23 points. The price rally brought the stock closer to its 52-week high of Rs.145.20, reflecting optimism despite broader market volatility.
10 February: Mixed Technical Signals Amid Price Momentum Shift
On 10 Feb, the stock experienced a slight dip of 0.16% to Rs.122.10, with volume declining to 1,381 shares. Technical analysis revealed a complex picture: while short-term momentum indicators such as the weekly MACD and KST suggested mild bullishness, longer-term monthly MACD remained bearish. The stock’s trend shifted from mildly bearish to sideways, indicating a consolidation phase. The Relative Strength Index (RSI) remained neutral, and Bollinger Bands signalled potential for an upward breakout. Despite the mixed signals, Menon Bearings continued to outperform the Sensex, which gained 0.25% that day.
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11 February: Price Correction Amid Volatility
The stock corrected sharply on 11 Feb, falling 3.44% to Rs.117.90 on increased volume of 3,882 shares. This decline contrasted with the Sensex’s modest 0.13% gain, highlighting stock-specific pressures. The price drop reflected the mixed technical backdrop, with daily moving averages turning mildly bearish. Despite this, weekly momentum indicators remained mildly positive, suggesting the correction might be a consolidation rather than a reversal.
12 February: Valuation Reclassification and Technical Downgrade
On 12 Feb, Menon Bearings closed at Rs.119.40, recovering 1.27% from the prior day’s low but still reflecting a 3.97% intraday decline from the previous close of Rs.122.10. The stock’s valuation shifted from very expensive to expensive, with a price-to-earnings ratio of 21.14 and a price-to-book value of 4.13. These multiples positioned Menon Bearings at a premium relative to peers such as GNA Axles and Jay Bharat Maru. Concurrently, the Mojo Grade was downgraded to Sell, reflecting caution amid sector dynamics and mixed technical signals. The stock’s enterprise value to EBITDA ratio stood at 14.61, while profitability metrics remained solid with ROCE at 17.59% and ROE at 17.16%.
13 February: Technical Momentum Shifts to Sideways with Mild Bullish Undertones
Closing the week on 13 Feb at Rs.117.10, Menon Bearings posted a 1.93% decline from the previous day’s close of Rs.119.40, on volume of 1,238 shares. Technical momentum shifted from mildly bearish to a more sideways trend, with weekly MACD and KST indicators mildly bullish, while monthly MACD remained bearish. Daily moving averages stayed mildly bearish, but Bollinger Bands on weekly and monthly charts suggested expanding price volatility and potential strength. The stock’s relative outperformance continued, with a year-to-date gain of 11.75% compared to the Sensex’s 1.81% decline. However, longer-term returns showed mixed results, with the stock lagging the Sensex over one and three years.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.122.30 | +5.52% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.122.10 | -0.16% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.117.90 | -3.44% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.119.40 | +1.27% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.117.10 | -1.93% | 36,532.48 | -1.40% |
Key Takeaways
Outperformance Despite Mixed Signals: Menon Bearings outperformed the Sensex over the week (+1.04% vs -0.54%), supported by early-week gains and resilient technical momentum on weekly charts.
Technical Transition Phase: The stock’s trend shifted from mildly bearish to sideways, with weekly MACD and KST indicators mildly bullish but monthly MACD and daily moving averages signalling caution. RSI remained neutral throughout, indicating balanced momentum.
Valuation Recalibration: The downgrade from very expensive to expensive valuation, alongside a Mojo Grade downgrade to Sell, reflects a cautious market stance amid premium pricing relative to peers and sector headwinds.
Sector and Market Context: Operating in the Auto Components & Equipments sector, Menon Bearings faces cyclical challenges including supply chain issues and demand fluctuations, which contribute to the mixed technical and valuation signals observed.
Conclusion
Menon Bearings Ltd’s week was characterised by a volatile but ultimately positive price performance, supported by a complex interplay of technical and valuation factors. The stock’s early surge set a strong tone, but subsequent mixed technical signals and a valuation downgrade tempered enthusiasm. While short-term momentum indicators suggest potential for further gains, longer-term caution remains warranted given the bearish monthly MACD and premium valuation multiples. Investors should monitor key technical levels and sector developments closely to assess whether Menon Bearings can sustain its relative strength or if further consolidation lies ahead.
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