Key Events This Week
23 Feb: Stock opens at Rs.155.35, down 1.40% amid weak market sentiment
24 Feb: Continued decline to Rs.153.30 as Sensex dips 0.78%
25 Feb: Sharp fall to Rs.149.85 following downgrade announcement
26 Feb: Technical downgrade confirmed; stock closes near Rs.150.10
27 Feb: Week ends at Rs.147.80, down 1.40% on final trading day
23 February 2026: Week Opens with Decline Amid Market Strength
The stock opened the week at Rs.155.35, down 1.40% from the previous Friday’s close of Rs.157.55. This decline contrasted with the Sensex’s positive gain of 0.39%, closing at 36,817.86. The divergence suggested early weakness in S H Kelkar & Company Ltd, possibly reflecting investor caution ahead of anticipated corporate developments. Trading volume was moderate at 3,541 shares, indicating measured participation.
24 February 2026: Continued Downtrend as Broader Market Retreats
On 24 February, the stock price slipped further to Rs.153.30, a 1.32% drop, in line with the Sensex’s 0.78% decline to 36,530.09. Volume increased slightly to 3,856 shares, signalling growing selling interest. The broader market weakness compounded pressure on the stock, which remained below key moving averages, reinforcing a cautious technical outlook.
25 February 2026: Downgrade to Strong Sell Triggers Sharp Fall
The most significant event of the week occurred on 25 February, when MarketsMOJO downgraded S H Kelkar & Company Ltd from Sell to Strong Sell. This decisive rating shift was prompted by weak financial results, including a 44.6% decline in profit before tax excluding other income and a 54.4% drop in net profit after tax for Q3 FY 2025-26. The stock reacted sharply, falling 2.25% to Rs.149.85 on heavy volume of 7,532 shares. The downgrade reflected deteriorating technical indicators such as bearish MACD on weekly and monthly charts, and bearish Bollinger Bands, signalling increased downside momentum.
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26 February 2026: Technical Downgrade Confirms Bearish Momentum
The bearish trend intensified on 26 February as the stock closed at Rs.150.10, down 2.09% from the previous day’s close. Intraday trading ranged between Rs.149.15 and Rs.155.35, with volume surging to 11,826 shares, reflecting heightened investor activity. The technical downgrade from Sell to Strong Sell was confirmed, with key indicators such as MACD and Bollinger Bands signalling sustained negative momentum. The stock traded closer to its 52-week low of Rs.135.35 than its high of Rs.275.20, underscoring persistent weakness. The Sensex, meanwhile, gained 0.19% to 36,748.49, highlighting the stock’s relative underperformance.
27 February 2026: Week Ends with Further Decline Amid Market Weakness
On the final trading day of the week, S H Kelkar & Company Ltd closed at Rs.147.80, down 1.40% on low volume of 2,130 shares. The Sensex fell 1.16% to 36,322.56, reflecting broader market weakness. The stock’s weekly decline of 6.19% starkly contrasted with the Sensex’s 0.96% fall, emphasising the company’s ongoing challenges. The technical environment remained unfavourable, with daily moving averages below key resistance levels and no clear signs of reversal in momentum indicators such as RSI and KST.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.155.35 | -1.40% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.153.30 | -1.32% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.149.85 | -2.25% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.149.90 | +0.03% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.147.80 | -1.40% | 36,322.56 | -1.16% |
Key Takeaways
Negative Financial Trends: The company’s Q3 FY 2025-26 results revealed a sharp decline in profitability, with profit before tax excluding other income down 44.6% and net profit after tax falling 54.4%. This deterioration has weighed heavily on investor sentiment and contributed to the downgrade.
Bearish Technical Indicators: The shift from a mildly bearish to outright bearish technical trend was confirmed by multiple indicators including MACD, Bollinger Bands, and moving averages. The stock’s trading below key averages and near its 52-week low signals sustained selling pressure.
Underperformance vs Sensex: The stock’s weekly loss of 6.19% significantly outpaced the Sensex’s 0.96% decline, highlighting relative weakness. Year-to-date, the stock has declined 16.17%, compared to the Sensex’s 3.46% fall.
Valuation and Quality Concerns: Despite a modestly attractive valuation with an enterprise value to capital employed ratio of 1.4, the company’s low ROCE of 7.42% and disappointing long-term returns raise questions about its ability to generate shareholder value.
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Conclusion
S H Kelkar & Company Ltd’s performance this week was marked by a clear deterioration in both technical and fundamental factors. The downgrade to a Strong Sell rating by MarketsMOJO reflects growing concerns over the company’s financial health and technical outlook. The stock’s significant underperformance relative to the Sensex and its proximity to 52-week lows underscore the challenges ahead. While valuation metrics suggest some discount, the prevailing bearish momentum and weak earnings trend advise caution. Investors should monitor upcoming quarterly results and technical signals closely before considering exposure to this stock.
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