Key Events This Week
Jun 8: Stock opens at ₹123.05, down 2.03% amid bearish technical signals
Jun 9: MarketsMOJO downgrades to Strong Sell; slight recovery to ₹123.75 (+0.57%)
Jun 10: Reports sharp 91.5% PAT decline despite record sales; stock dips to ₹122.25 (-1.21%)
Jun 11: Minor decline to ₹122.10 (-0.12%) on low volume
Jun 12: Strong rebound with 5.00% gain to ₹128.20, outpacing Sensex
Monday, 8 June 2026: Bearish Momentum Sets the Tone
On Monday, S H Kelkar & Company Ltd opened the week at ₹123.05, down 2.03% from the previous Friday’s close of ₹125.60. This decline was sharper than the Sensex’s 1.33% fall to 34,673.90, signalling early bearish momentum. The drop coincided with a technical downgrade announced on 9 June, reflecting deteriorating price action and multiple bearish indicators. The stock traded in a range between ₹122.70 and ₹125.95, with volume of 14,958 shares, indicating moderate investor activity amid negative sentiment.
Tuesday, 9 June 2026: Downgrade to Strong Sell and Slight Recovery
Despite the technical downgrade to a Strong Sell grade by MarketsMOJO on 15 May 2026, the stock managed a modest recovery on Tuesday, closing at ₹123.75, up 0.57%. This outpaced the Sensex’s 0.88% gain to 34,979.26, suggesting some short-term resilience. The downgrade reflected worsening technical and fundamental conditions, including bearish moving averages and weak return profiles. Volume increased to 17,927 shares, indicating heightened trading interest as investors digested the negative outlook.
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Wednesday, 10 June 2026: Profitability Plummets Despite Record Sales
The company released its quarterly results revealing record net sales of ₹649.94 crores for March 2026, yet profitability suffered a severe setback. Profit after tax plunged 91.5% to ₹1.85 crores compared to the previous four-quarter average, with earnings per share falling to ₹0.13. Operating profits were further eroded by a surge in interest expenses to ₹15.03 crores, the highest quarterly figure recorded. The stock reacted negatively, closing at ₹122.25, down 1.21%, underperforming the Sensex’s 0.61% decline. Volume dropped sharply to 5,401 shares, reflecting cautious investor sentiment amid financial headwinds.
Thursday, 11 June 2026: Consolidation on Low Volume
On Thursday, the stock saw a marginal decline of 0.12% to ₹122.10, with volume remaining subdued at 6,151 shares. The Sensex also declined by 0.53% to 34,580.95. This quiet session suggested consolidation as investors awaited further clarity on the company’s financial trajectory and sector outlook. The technical indicators remained bearish, with no significant reversal signals emerging.
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Friday, 12 June 2026: Strong Rebound Outpaces Market
The week closed on a positive note with the stock surging 5.00% to ₹128.20, significantly outperforming the Sensex’s 2.20% gain to 35,342.50. Volume surged to 18,257 shares, the highest of the week, indicating renewed buying interest. This rebound may reflect bargain hunting or short-term technical relief following the prior days’ declines and negative news flow. Despite this gain, the stock remains under pressure from its weak profitability and technical downgrade backdrop.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-06-08 | Rs.123.05 | -2.03% | 34,673.90 | -1.33% |
| 2026-06-09 | Rs.123.75 | +0.57% | 34,979.26 | +0.88% |
| 2026-06-10 | Rs.122.25 | -1.21% | 34,766.59 | -0.61% |
| 2026-06-11 | Rs.122.10 | -0.12% | 34,580.95 | -0.53% |
| 2026-06-12 | Rs.128.20 | +5.00% | 35,342.50 | +2.20% |
Key Takeaways
Positive Signals: The stock’s 5.00% gain on Friday and weekly outperformance (+2.07% vs Sensex +0.57%) indicate some short-term buying interest and potential technical relief. Record quarterly sales of ₹649.94 crores demonstrate underlying market demand resilience.
Cautionary Signals: The sharp 91.5% plunge in PAT and deteriorating return ratios highlight significant profitability challenges. The downgrade to a Strong Sell grade by MarketsMOJO reflects heightened risk and bearish technical momentum. Elevated interest expenses and worsening liquidity metrics add to financial concerns. The stock’s price remains volatile and below historical highs, underscoring ongoing uncertainty.
Conclusion
S H Kelkar & Company Ltd’s week was shaped by a complex interplay of technical and fundamental factors. While the stock managed to close higher by 2.07%, outperforming the Sensex, the underlying financial results reveal troubling profitability and leverage issues. The technical downgrade to Strong Sell and bearish indicators suggest caution remains warranted. Investors should closely monitor upcoming quarters for signs of margin recovery and improved cash flow, as well as any shifts in technical momentum. For now, the stock’s trajectory appears challenged by both operational headwinds and market sentiment.
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