Sri Adhikari Brothers Television Network Ltd Plunges to Lower Circuit Amid Heavy Selling Pressure

Market Context and Stock Performance

Sri Adhikari Brothers Television Network Ltd (stock ID: 469703) operates within the Media & Entertainment industry and currently holds a market capitalisation of approximately ₹3,968 crores. Despite its sizeable presence, the stock has been under significant pressure recently, with a Mojo Score of 37.0 and a Mojo Grade of Sell as of 4 Sep 2025, downgraded from a previous Strong Sell rating. This downgrade reflects deteriorating fundamentals and weak momentum indicators.

On 20 Feb 2026, the stock hit its lower circuit, falling by 5.00% to close at its intraday low. This maximum daily loss limit triggered an automatic trading halt, signalling extreme bearishness and a lack of buyers willing to absorb the selling volume. The day’s trading saw a pronounced gap down at the open, with the stock opening 2.69% lower than the previous close, further exacerbating the negative sentiment.

Heavy Selling Pressure and Panic Selling

The sharp decline was accompanied by heavy selling pressure, as evidenced by the weighted average price being closer to the day’s low of ₹1469.3. This indicates that most trades occurred near the bottom end of the price band, a classic sign of panic selling. Investors appeared eager to exit positions, unwilling to hold through further downside risk.

Adding to the bearish narrative, the stock has been on a consecutive losing streak for seven trading sessions, cumulatively falling by 23.05% over this period. This sustained downtrend has likely intensified investor anxiety, prompting accelerated sell-offs and contributing to the unfilled supply that pushed the stock to its circuit limit.

Technical and Volume Analysis

From a technical standpoint, the stock’s price currently trades above its 100-day and 200-day moving averages, suggesting some longer-term support. However, it remains below its 5-day, 20-day, and 50-day moving averages, signalling short- to medium-term weakness and a bearish momentum. This mixed technical picture may be contributing to the cautious stance among traders.

Investor participation has notably increased, with delivery volumes on 19 Feb 2026 rising by 464.49% compared to the five-day average, reaching 1,450 shares. This spike in delivery volume indicates that more investors are committing to their trades rather than intraday speculation, often a sign of conviction in the prevailing trend—in this case, selling.

Liquidity remains adequate for trading, with the stock’s turnover on 20 Feb 2026 amounting to ₹1.02 crore on a total traded volume of approximately 6,847 shares. This level of liquidity supports the sizeable price movement and confirms active market participation despite the negative trend.

Comparative Sector and Market Performance

While Sri Adhikari Brothers Television Network Ltd has been under pressure, the broader Media & Entertainment sector has experienced relatively milder declines. The sector recorded a 1-day return of -0.62% on 20 Feb 2026, significantly less severe than the stock’s 5.00% fall. Meanwhile, the Sensex index marginally gained 0.07%, highlighting the stock’s underperformance relative to both its sector and the broader market.

This divergence underscores company-specific challenges rather than sector-wide issues. Investors should be cautious, as the stock’s steep decline and circuit hit suggest underlying concerns that may not be reflected in the wider industry.

Fundamental Assessment and Ratings

MarketsMOJO’s comprehensive analysis assigns Sri Adhikari Brothers Television Network Ltd a Mojo Grade of Sell, reflecting weak fundamentals and deteriorating quality scores. The downgrade from Strong Sell to Sell on 4 Sep 2025 indicates a slight improvement but remains firmly negative. The company’s market cap grade stands at 3, categorising it as a small-cap stock with inherent volatility and risk.

Investors should note that the current rating factors in multiple parameters including financial health, earnings momentum, and valuation metrics. The persistent downtrend and recent circuit hit reinforce the need for caution, especially for risk-averse investors.

Investor Implications and Outlook

The lower circuit hit on 20 Feb 2026 is a clear warning sign for investors. It reflects not only the maximum daily loss permitted but also a market environment where selling overwhelms buying interest, leading to unfilled supply and price freezes. Such events often trigger panic selling, as investors rush to limit losses amid uncertainty.

Given the stock’s recent performance, including a 23.05% decline over seven consecutive sessions, investors should carefully reassess their positions. The technical indicators suggest short-term weakness, while the fundamental ratings imply ongoing challenges. Those holding the stock may consider risk management strategies, while prospective buyers should await signs of stabilisation or improvement in fundamentals before entering.

In contrast, the broader sector and market have shown relative resilience, indicating that company-specific factors are driving the sell-off. Monitoring upcoming corporate announcements, earnings reports, and sector developments will be crucial to gauge any potential turnaround.

Conclusion

Sri Adhikari Brothers Television Network Ltd’s plunge to the lower circuit limit on 20 Feb 2026 underscores the intense selling pressure and investor apprehension surrounding the stock. The maximum daily loss of 5.00%, combined with unfilled supply and panic selling, highlights a precarious situation for shareholders. While the company remains a notable player in the Media & Entertainment sector, current technical and fundamental assessments advise caution. Investors should remain vigilant and consider alternative opportunities within the sector or broader market until clearer signs of recovery emerge.

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