Key Events This Week
29 Jun: New 52-week and all-time high at Rs.46.11
30 Jun - 3 Jul: Consecutive daily declines, closing at Rs.34.01 on 3 Jul (-18.52% weekly)
29 June 2026: Stock Hits New 52-Week and All-Time High at Rs.46.11
Mid East Portfolio Management Ltd reached a significant milestone on 29 June 2026, touching a new 52-week and all-time high of Rs.46.11. This represented a 4.96% gain on the day, with the stock opening and closing at this peak level, signalling strong demand and investor confidence. The price marked a continuation of an impressive rally, with the stock having gained 70.78% over the preceding 11 trading sessions.
The stock’s performance on this day notably outpaced the Sensex, which rose marginally by 0.16%, and outperformed its NBFC sector peers by 4.78%. Technical indicators at this point were predominantly bullish, with the stock trading above all key moving averages and supported by positive MACD and Bollinger Bands signals on weekly and monthly charts. Despite a bearish RSI on the weekly chart, the overall momentum was strong.
Valuation metrics at this peak price showed a trailing twelve months P/E of 26x and a P/BV of 4.92x, reflecting elevated market expectations. The company’s mojo score stood at 46.0 with a ‘Sell’ grade, upgraded from ‘Strong Sell’ earlier in May 2026, indicating cautious optimism despite the rally.
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30 June to 3 July 2026: Sharp Consecutive Declines Amid Rising Sensex
Following the peak on 29 June, Mid East Portfolio Management Ltd’s stock price declined sharply over the next four trading sessions. On 30 June, the stock fell 4.98% to Rs.39.66 on low volume of 10,941 shares, while the Sensex remained nearly flat, down 0.01%. This marked the start of a sustained correction phase.
The downward trend continued on 1 July with a 4.99% drop to Rs.37.68, despite the Sensex gaining 0.45%. Volume further declined to 5,428 shares, indicating reduced trading interest. On 2 July, the stock again lost 4.99%, closing at Rs.35.80, while the Sensex advanced 0.71%. The volume picked up slightly to 8,222 shares.
The week concluded on 3 July with a 5.00% fall to Rs.34.01, the lowest close of the week, on volume of 8,153 shares. The Sensex posted a modest 0.15% gain. This sequence of declines resulted in an 18.52% weekly loss for the stock, contrasting sharply with the Sensex’s 1.31% gain, underscoring a significant underperformance.
The persistent selling pressure and volume patterns suggest profit-taking and possible investor caution following the recent rally and elevated valuations. The stock’s mojo grade remains ‘Sell’, reflecting ongoing concerns despite the recent price volatility.
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Weekly Price Performance: Stock vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-06-29 | Rs.41.74 | +4.96% | 35,960.98 | +0.18% |
| 2026-06-30 | Rs.39.66 | -4.98% | 35,958.71 | -0.01% |
| 2026-07-01 | Rs.37.68 | -4.99% | 36,119.01 | +0.45% |
| 2026-07-02 | Rs.35.80 | -4.99% | 36,376.02 | +0.71% |
| 2026-07-03 | Rs.34.01 | -5.00% | 36,431.45 | +0.15% |
Key Takeaways
Positive Signals: The stock’s new 52-week and all-time high at Rs.46.11 on 29 June reflected strong momentum and investor interest, supported by bullish technical indicators and a significant rally over the prior weeks. The mojo grade upgrade from ‘Strong Sell’ to ‘Sell’ earlier in May 2026 suggests some improvement in fundamentals and market sentiment.
Cautionary Signals: The sharp 18.52% decline over the week amid a rising Sensex highlights significant profit-taking or risk aversion. The consistent daily drops with relatively low volumes indicate weakening demand. Elevated valuation multiples at the peak price and below-average quality grades suggest the stock remains vulnerable to corrections. The bearish RSI on weekly charts and flat recent earnings trends add to the caution.
Conclusion
Mid East Portfolio Management Ltd’s week was defined by a striking reversal from a new all-time high to a steep correction, resulting in an 18.52% weekly loss against a 1.31% Sensex gain. The initial surge to Rs.46.11 underscored strong momentum and relative outperformance, but the subsequent four days of declines reflect profit-taking and market caution amid elevated valuations and mixed financial quality signals. Investors should note the divergence from the broader market’s positive trend and the company’s current ‘Sell’ mojo grade, which together suggest a need for prudence in the near term.
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