Key Events This Week
09 Feb: Stock opens strong at Rs.2,830.55 (+3.77%) following upgrade announcement
10 Feb: MarketsMOJO upgrades Radico Khaitan Ltd to Buy on strong financials and improved technicals
10 Feb: Stock exhibits mildly bullish momentum amid mixed technical signals
13 Feb: Week closes at Rs.2,792.00 (-1.34% on day, +2.36% weekly)
Strong Opening on Monday Reflects Positive Sentiment
Radico Khaitan Ltd began the week on a robust note, with the stock surging 3.77% to close at Rs.2,830.55 on 09 Feb 2026. This sharp gain outpaced the Sensex’s 1.04% rise, signalling early investor enthusiasm. The volume of 15,071 shares traded was moderate, suggesting measured but confident buying interest. This initial strength set the tone for the week, coinciding with the announcement of the company’s upgrade by MarketsMOJO.
Upgrade to Buy on 10 Feb Spurs Further Optimism
On 10 Feb, MarketsMOJO upgraded Radico Khaitan Ltd’s rating from Hold to Buy, citing strong financials and improved technical indicators. The upgrade was underpinned by the company’s impressive Q3 FY25-26 results, including a 20.44% annualised growth in net sales and a 40.1% increase in profit after tax to ₹162.10 crores. Operational efficiency was highlighted by a 12.42% rise in operating profit and a robust ROCE of 19.28%. The company’s low leverage, with a Debt to EBITDA ratio of 1.04 times and an interest coverage ratio of 16.27 times, further reinforced the positive outlook.
Despite a premium valuation with an enterprise value to capital employed ratio of 10.8 times, Radico Khaitan’s PEG ratio of 1 and strong earnings growth of 73.4% over the past year suggest the stock remains attractively valued relative to its peers. Institutional investors hold a significant 43.85% stake, reflecting confidence from sophisticated market participants.
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Technical Momentum Shifts to Mildly Bullish Amid Mixed Signals
The upgrade was accompanied by a technical trend shift from sideways to mildly bullish. On 10 Feb, the stock’s price action confirmed this with a strong close at Rs.2,830.55, near the session high of Rs.2,836.05. Daily moving averages supported this upward momentum, with the stock trading above short-term averages, signalling potential near-term support.
However, the technical picture remains nuanced. Weekly and monthly MACD indicators continue to show mild bearishness, suggesting that longer-term momentum has yet to fully align with recent gains. The monthly RSI has turned bullish, indicating strengthening momentum over a longer horizon, while weekly RSI remains inconclusive. Bollinger Bands present a mixed stance, mildly bearish on a weekly basis but bullish monthly, reflecting volatility contraction in the short term but expansion over the medium term.
Additional momentum indicators such as the Know Sure Thing (KST) oscillator and Dow Theory analysis show no clear trend, highlighting ongoing market indecision. On-Balance Volume (OBV) also lacks a definitive directional trend, indicating balanced volume flows between buyers and sellers.
Midweek Price Recovery and Volume Trends
Following the initial surge, the stock retraced on 10 Feb, closing at Rs.2,766.00, down 2.28% on higher volume of 48,250 shares, reflecting profit-taking after the upgrade announcement. The Sensex, however, continued to rise modestly by 0.25%, indicating the stock’s relative weakness on that day.
On 11 Feb, Radico Khaitan rebounded, gaining 1.77% to Rs.2,815.00 on lower volume of 12,471 shares, while the Sensex edged up 0.13%. The stock’s recovery was supported by the ongoing positive sentiment from the upgrade and technical momentum.
On 12 Feb, the stock added a further 0.53% to close at Rs.2,829.80, despite the Sensex declining 0.56%. This divergence underscored the stock’s resilience amid broader market weakness. Volume was relatively low at 7,980 shares, suggesting cautious accumulation.
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Friday’s Decline Caps Weekly Gains
The week concluded on 13 Feb with a 1.34% decline to Rs.2,792.00 on volume of 12,209 shares, as the Sensex fell 1.40%. Despite the day’s weakness, the stock managed to close the week with a positive 2.36% gain, outperforming the benchmark by nearly 3 percentage points. This relative strength amid a declining market highlights the stock’s underlying resilience and the positive impact of the recent upgrade and technical momentum shift.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.2,830.55 | +3.77% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.2,766.00 | -2.28% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.2,815.00 | +1.77% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.2,829.80 | +0.53% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.2,792.00 | -1.34% | 36,532.48 | -1.40% |
Key Takeaways
Positive Signals: The MarketsMOJO upgrade to Buy on 10 Feb was a pivotal event, reflecting strong financial performance and improved technical momentum. The stock’s 2.36% weekly gain outperformed the Sensex’s 0.54% decline, underscoring resilience amid broader market weakness. Robust quarterly earnings growth, high ROCE, and low leverage underpin the company’s fundamental strength. The shift to mildly bullish technical momentum, supported by daily moving averages and monthly RSI, suggests potential for further gains.
Cautionary Notes: Despite the upgrade, some technical indicators such as weekly and monthly MACD and KST remain mildly bearish, indicating that the recent rally may face resistance or consolidation. The stock’s premium valuation metrics imply limited upside if earnings growth slows. Volume trends showed some profit-taking midweek, signalling cautious investor sentiment. Market volatility and broader economic factors could influence near-term price action.
Conclusion
Radico Khaitan Ltd’s performance over the week ending 13 Feb 2026 was characterised by a positive fundamental reassessment and a technical momentum shift that helped the stock outperform the Sensex. The MarketsMOJO upgrade to Buy, driven by strong financial results and improving technical indicators, provided a catalyst for the initial price surge. While mixed technical signals suggest some caution, the overall outlook remains constructive with the stock demonstrating resilience in a challenging market environment. Investors and market participants should monitor upcoming quarterly results and technical developments to assess the sustainability of this momentum.
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