Key Events This Week
23 Mar: New 52-week low and intraday low hit amid sharp price pressure
24 Mar: Stock hits fresh 52-week low of Rs.252.10 amid continued downtrend
25 Mar: Price rebounds modestly with a 2.81% gain
27 Mar: Week closes at Rs.249.90 after another 52-week low and sharp decline
23 March 2026: Sharp Decline to 52-Week Low Amid Market Weakness
Relaxo Footwears Ltd’s stock opened the week under intense selling pressure, closing at Rs.255.45, down 6.84% on the day. The stock hit an intraday low of Rs.254.05, marking a fresh 52-week low. This decline outpaced the Sensex’s 3.13% fall and the footwear sector’s 3.95% drop, signalling company-specific weakness beyond broader market pressures.
The stock traded below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, confirming sustained bearish momentum. Technical indicators such as the MACD and Bollinger Bands were bearish on weekly and monthly charts, while the KST indicator showed mixed signals with a mildly bullish monthly but bearish weekly stance. The Mojo Score stood at a low 21.0, categorising the stock as a Strong Sell.
24 March 2026: Continued Downtrend with New 52-Week Low
The downtrend persisted on 24 March as Relaxo’s stock price declined further to close at Rs.258.40, a modest 1.15% gain intraday but ultimately settling at a fresh 52-week low of Rs.252.10. The stock’s day change was a slight decline of 0.39%, in line with the footwear sector’s performance. The Sensex closed down 1.03%, continuing its cautious stance near 52-week lows.
Financial metrics remained under pressure with the latest quarterly PAT down 19.6% to Rs.26.54 crores and operating profit contracting at an annualised rate of 8.46% over five years. The company’s price-to-book ratio remained elevated at 3, despite subdued profitability and a low return on equity of 8%. The conservative capital structure with a debt-to-equity ratio of 0.01 times offered limited relief amid the negative sentiment.
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25 March 2026: Modest Recovery Amid Low Volumes
On 25 March, Relaxo Footwears Ltd saw a modest rebound, closing at Rs.265.65, up 2.81% on the day. This gain was accompanied by a sharp rise in the Sensex, which gained 1.93%, reflecting a broader market recovery. However, the stock’s volume was relatively low at 13,274 shares, indicating limited conviction behind the rally.
Despite the short-term bounce, the stock remained below all major moving averages, and the overall technical outlook stayed bearish. The company’s financial challenges and valuation concerns continued to weigh on investor sentiment, limiting the scope for sustained gains.
27 March 2026: Week Ends with Another 52-Week Low and Sharp Decline
The week concluded on a weak note as Relaxo Footwears Ltd’s stock fell 5.93% to close at Rs.249.90, marking another 52-week low. The intraday low touched Rs.251.95, underscoring persistent selling pressure. The stock underperformed the consumer durables sector, which declined 3.29%, and the Sensex, which fell 2.11%.
Technical indicators remained firmly bearish with the MACD and Bollinger Bands signalling downward momentum on weekly and monthly charts. The company’s financial metrics continued to reflect subdued profitability, with quarterly PBDIT at a low Rs.69.39 crores and cash reserves at Rs.25.22 crores. The Mojo Grade remained at Strong Sell, reflecting deteriorated fundamentals and weak outlook.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-03-23 | Rs.255.45 | -6.84% | 32,377.87 | -3.13% |
| 2026-03-24 | Rs.258.40 | +1.15% | 33,009.57 | +1.95% |
| 2026-03-25 | Rs.265.65 | +2.81% | 33,645.89 | +1.93% |
| 2026-03-27 | Rs.249.90 | -5.93% | 32,935.19 | -2.11% |
Key Takeaways
Persistent Downtrend: Relaxo Footwears Ltd’s stock consistently hit new 52-week lows during the week, reflecting ongoing bearish momentum and weak investor confidence.
Underperformance vs Sensex and Sector: The stock’s weekly decline of 8.86% significantly outpaced the Sensex’s 1.46% fall and the footwear sector’s moderate losses, highlighting company-specific challenges.
Financial Weakness: Declining profitability with a 19.6% drop in latest quarterly PAT and a five-year operating profit CAGR contraction of 8.46% underpin the negative sentiment.
Bearish Technical Indicators: MACD, Bollinger Bands, and moving averages across multiple timeframes signal sustained downward pressure, with the Mojo Score at a low 21.0 categorising the stock as a Strong Sell.
Valuation Concerns: Despite weak fundamentals, the stock trades at a premium price-to-book ratio of around 3, suggesting a disconnect between valuation and earnings performance.
Conclusion
Relaxo Footwears Ltd’s performance over the week ending 27 March 2026 highlights a challenging environment marked by steep price declines, persistent 52-week lows, and deteriorating financial metrics. The stock’s underperformance relative to the Sensex and its sector, combined with bearish technical signals and a Strong Sell rating from MarketsMOJO, underscores the difficulties faced by the company in reversing its downtrend. While the company’s low leverage and stable promoter ownership provide some stability, the prevailing market and financial conditions have weighed heavily on investor sentiment, resulting in a marked decline in share price and outlook.
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