Key Events This Week
Feb 2: Stock opens at Rs.1,414.20, down 1.19% amid broader market weakness
Feb 3: Q3 FY26 results reveal flat profit growth, stock rebounds +0.97%
Feb 6: MarketsMOJO upgrades rating to Hold on technical improvements, stock closes at Rs.1,488.15 (+1.30%)
Monday, 2 February 2026: Weak Start Amid Market Downturn
Pidilite Industries began the week on a cautious note, closing at Rs.1,414.20, down 1.19% from the previous Friday’s close of Rs.1,431.20. This decline was in line with the broader market, as the Sensex fell 1.03% to 35,814.09. The stock’s volume was relatively subdued at 24,104 shares, reflecting investor hesitation amid a general market sell-off. The initial weakness set a tentative tone for the week, with investors awaiting quarterly results and technical signals for clearer direction.
Tuesday, 3 February 2026: Earnings Reveal Growth Headwinds, Stock Recovers
On 3 February, Pidilite released its Q3 FY26 results, which showed flat profit growth, signalling some growth headwinds despite the company’s premium valuation. The market reacted with measured optimism as the stock rebounded 0.97% to close at Rs.1,427.85 on strong volume of 82,428 shares. This recovery contrasted with the Sensex’s robust 2.63% gain to 36,755.96, indicating that while the broader market was buoyant, investors remained cautious on Pidilite’s near-term earnings outlook. The flat quarterly performance highlighted operational pressures, including a low cash balance of ₹265.21 crores and a debtor turnover ratio of 6.45 times, the lowest in recent periods.
Wednesday, 4 February 2026: Continued Gains on Technical Stability
Pidilite extended its gains on 4 February, climbing 2.24% to Rs.1,459.80, supported by a moderate volume of 52,043 shares. The stock outperformed the Sensex, which rose a modest 0.37% to 36,890.21. This price action reflected growing investor confidence in the stock’s technical outlook, despite the flat earnings. The company’s strong long-term fundamentals, including a 21.78% average ROE and low debt-to-equity ratio of 0.02, continued to underpin the stock’s appeal. The upward momentum suggested that the market was beginning to price in a stabilisation of growth prospects.
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Thursday, 5 February 2026: Technical Upgrade Spurs Mild Gains
On 5 February, MarketsMOJO upgraded Pidilite Industries Ltd’s rating from 'Sell' to 'Hold', citing improvements in technical indicators despite flat quarterly results and valuation concerns. The stock responded positively, closing at Rs.1,469.00, up 0.63% on low volume of 17,281 shares. Technical signals such as the Moving Average Convergence Divergence (MACD) improved from bearish to mildly bearish on monthly charts, while the Relative Strength Index (RSI) remained neutral. Bollinger Bands suggested sideways weekly movement with a mildly bearish monthly bias. This upgrade reflected a cautious but more optimistic stance, recognising the stock’s stabilising momentum amid short-term pressures.
Friday, 6 February 2026: Mixed Technical Signals Amid Steady Gains
Pidilite closed the week on a positive note, rising 1.30% to Rs.1,488.15 on relatively light volume of 13,059 shares. Technical momentum showed a subtle shift with mildly bearish to neutral indicators across MACD, KST oscillator, and On-Balance Volume (OBV). The stock traded within a range of Rs.1,458.35 to Rs.1,482.30, remaining comfortably above its 52-week low of Rs.1,310.08 but below the 52-week high of Rs.1,575.00. Despite the mixed signals, the stock outperformed the Sensex’s modest 0.10% gain to 36,730.20, underscoring relative strength amid a cautious market environment.
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Weekly Price Performance: Pidilite vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.1,414.20 | -1.19% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.1,427.85 | +0.97% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.1,459.80 | +2.24% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.1,469.00 | +0.63% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.1,488.15 | +1.30% | 36,730.20 | +0.10% |
Key Takeaways
Positive Signals: Pidilite Industries outperformed the Sensex by 2.47% over the week, supported by a technical upgrade from 'Sell' to 'Hold' and stabilising momentum indicators. The company’s strong long-term fundamentals, including a 21.78% average ROE and minimal leverage, continue to underpin investor confidence. The stock’s ability to maintain gains despite flat quarterly profits suggests resilience and market recognition of its quality.
Cautionary Notes: The Q3 FY26 results revealed flat profit growth, with operational metrics such as low cash reserves and reduced debtor turnover indicating short-term pressures. Valuation remains elevated, with a Price to Book ratio of 15.6 and a PEG ratio of 4.2, limiting upside potential. Technical indicators remain mildly bearish on weekly charts, signalling that the stock is in a consolidation phase rather than a clear uptrend.
Conclusion
Pidilite Industries Ltd’s week was characterised by a delicate balance between technical recovery and earnings-related caution. The stock’s 3.98% weekly gain, outperforming the Sensex’s 1.51%, reflects investor recognition of stabilising momentum amid flat quarterly results. The upgrade to a 'Hold' rating by MarketsMOJO underscores a more neutral stance, acknowledging improved technical signals while highlighting valuation and growth concerns. For investors, the stock remains a quality name with strong fundamentals and a history of outperformance, but current conditions suggest a watchful approach as the company navigates short-term stagnation and market volatility.
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