Key Events This Week
28 Sep: New 52-week and all-time high at Rs.651.10
29 Sep: Further 52-week high at Rs.660
30 Sep: New peak at Rs.677.5 amid strong momentum
01 Oct: Stock hits Rs.681.1, closing the week on a high note
28 September: Breakthrough to New Highs Amid Market Weakness
Shri Venkatesh Refineries Ltd began the week on a strong note, hitting a new 52-week and all-time high of Rs.651.10 on 28 September 2026. This represented a 3.35% gain on the day, contrasting sharply with the Sensex’s 1.60% decline to 34,788.97. The stock’s rally was driven by sustained buying interest, pushing it well above all key moving averages and signalling robust technical strength.
The edible oil sector was under pressure, declining 3.1%, yet Shri Venkatesh outperformed by over 6%, highlighting its resilience. The stock’s nine-day consecutive gain streak culminated in a 30% rally, underscoring strong momentum despite a bearish broader market environment.
29 September: Continued Momentum with Fresh 52-Week High at Rs.660
The upward trajectory continued on 29 September as the stock touched Rs.660, marking another all-time high and a 1.55% gain for the day. This extended the consecutive gain streak to ten sessions, delivering a cumulative 32% return. The Sensex declined further by 0.48% to 34,621.52, emphasising the stock’s outperformance.
Technical indicators remained bullish with positive MACD, Bollinger Bands, and KST signals on weekly and monthly charts. Despite a bearish monthly RSI, the overall trend was firmly upward. The stock’s valuation multiples remained elevated, reflecting strong market expectations.
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30 September: New Peak at Rs.677.5 with Strong Technical Confirmation
On 30 September, Shri Venkatesh Refineries Ltd surged to Rs.677.5, a 3.21% intraday increase and a new all-time high. The stock opened with a gap up of 2.24%, reflecting robust demand. It outperformed the edible oil sector by 2.71% and closed with a 2.83% gain, while the Sensex rose modestly by 0.29% to 34,564.37.
The stock’s 11-day consecutive gain streak delivered a 34.99% return, highlighting sustained investor confidence. Technical indicators such as MACD, Bollinger Bands, and Dow Theory remained bullish across weekly and monthly timeframes. Despite a bearish monthly RSI, the short-term momentum was strong.
1 October: Rally Peaks at Rs.681.1 Amid Market Downturn
Shri Venkatesh Refineries Ltd capped the week by hitting a new 52-week high of Rs.681.1 on 1 October, gaining 4.15% on the day and outperforming the Sensex, which declined 0.99%. The stock’s outperformance versus its sector was 4.05%, underscoring its leadership within the edible oil segment.
The stock traded above all major moving averages, with bullish MACD, Bollinger Bands, and KST indicators reinforcing the positive trend. The weekly RSI remained neutral, while the monthly RSI suggested caution. The stock’s one-year return stood at 138.35%, vastly exceeding the Sensex’s 10.54% decline.
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Daily Price Comparison: Shri Venkatesh Refineries Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-09-28 | Rs.649.95 | +3.34% | 34,788.97 | -1.60% |
| 2026-09-29 | Rs.656.40 | +0.99% | 34,621.52 | -0.48% |
| 2026-09-30 | Rs.651.95 | -0.68% | 34,564.37 | -0.17% |
| 2026-10-01 | Rs.679.00 | +4.15% | 34,221.41 | -0.99% |
Key Takeaways
Strong Outperformance: Shri Venkatesh Refineries Ltd outpaced the Sensex by over 11% during the week, a remarkable feat amid a broadly bearish market environment.
Consistent New Highs: The stock hit multiple new 52-week and all-time highs, reflecting sustained bullish momentum and investor confidence.
Technical Strength: Bullish signals from MACD, Bollinger Bands, KST, and Dow Theory across weekly and monthly charts underpin the stock’s upward trend, despite some caution from the monthly RSI.
Elevated Valuation: The stock trades at premium multiples, including a P/E near 96x and P/BV above 11x, indicating high market expectations for growth.
Delivery Volume Trends: Delivery volumes increased notably during the rally, signalling stronger market participation, although absolute volumes remain modest consistent with micro-cap characteristics.
Rating Upgrade: The Mojo Grade upgrade from Sell to Hold in July 2026 aligns with the stock’s improved fundamentals and price performance.
Conclusion
Shri Venkatesh Refineries Ltd’s 7.96% weekly gain amid a declining Sensex highlights its exceptional relative strength and resilience. The stock’s multiple new highs, supported by robust technical indicators and improving delivery volumes, underscore a well-established uptrend. While valuation metrics suggest a premium pricing environment, the company’s sustained outperformance within the edible oil sector and micro-cap segment is notable.
Investors should note the mixed signals from longer-term momentum indicators and the company’s average quality assessment, including leverage and growth challenges. Nonetheless, the recent upgrade to a Hold rating by MarketsMOJO reflects a balanced view of the stock’s prospects. As the stock trades comfortably above key moving averages and maintains strong technical momentum, it remains a significant performer in a challenging market backdrop.
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