Key Events This Week
16 Mar: Stock opens at Rs.6.05, declines 0.66%
17 Mar: Hits 52-week low of Rs.5.55; MarketsMOJO downgrades to Strong Sell
18 Mar: Continued price decline to Rs.5.99 amid weak fundamentals
19 Mar: Sharp drop to Rs.5.86 on heavy volume; Sensex falls 3.13%
20 Mar: Slight recovery to Rs.5.94 (+1.37%) as Sensex rebounds
16 March 2026: Week Opens with Mild Decline Amid Positive Sensex
Super Tannery Ltd began the week at Rs.6.05, down 0.66% from the previous close, while the Sensex gained 0.47% to close at 33,673.11. The stock’s modest decline contrasted with the broader market’s positive momentum, signalling early signs of relative weakness. Trading volume was low at 9,323 shares, indicating limited investor enthusiasm. The stock remained below key moving averages, foreshadowing the challenges ahead.
17 March 2026: Stock Hits 52-Week Low and Downgrade to Strong Sell
On 17 March, Super Tannery Ltd’s share price plunged to a fresh 52-week low of Rs.5.55, marking a significant downturn amid continued market pressure. The stock closed at Rs.6.04, down 0.17% on the day, but intraday trading saw a low of Rs.5.55, underscoring the intense selling pressure. Volume surged to 62,306 shares, reflecting heightened activity.
Simultaneously, MarketsMOJO downgraded the stock from Sell to Strong Sell, citing deteriorating fundamentals and bearish technical indicators. The company’s average Return on Capital Employed (ROCE) remains weak at 7.13%, and its Debt to EBITDA ratio is elevated at 3.39 times, signalling financial strain. Despite an attractive Enterprise Value to Capital Employed ratio of 0.7, the high Price/Earnings to Growth (PEG) ratio of 6.5 dampens valuation appeal.
The downgrade reflects a comprehensive reassessment of Super Tannery’s investment profile, highlighting sluggish sales growth, flat quarterly performance, and a shift to bearish momentum across multiple technical indicators including moving averages and Bollinger Bands.
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18 March 2026: Continued Downtrend Amidst Weak Fundamentals
The stock continued its downward trajectory on 18 March, closing at Rs.5.99, down 0.83% on the day, with volume rising to 69,564 shares. This decline occurred despite the Sensex advancing 1.15% to 34,329.13, highlighting the stock’s underperformance relative to the broader market.
Super Tannery’s financial metrics remain subdued, with net sales for the December 2025 quarter at Rs.59.87 crore, the lowest in recent periods. Profit growth has been marginal at 1.4% year-on-year, while the stock price has declined sharply over the past year by 36.62%. These factors continue to weigh heavily on investor sentiment.
19 March 2026: Sharp Decline on Heavy Volume Amid Market Sell-Off
On 19 March, the stock suffered its steepest single-day fall of the week, dropping 2.17% to close at Rs.5.86 on heavy volume of 204,159 shares. This decline coincided with a sharp Sensex fall of 3.13%, which closed at 33,255.16, reflecting broader market weakness.
The stock’s decline was exacerbated by bearish technical signals, including daily moving averages and Bollinger Bands indicating downward momentum. Despite some mildly bullish weekly MACD and KST indicators, the overall technical outlook remains negative, reinforcing the heightened downside risk.
20 March 2026: Slight Recovery as Market Stabilises
Super Tannery Ltd closed the week with a modest recovery, gaining 1.37% to Rs.5.94 on 20 March, supported by a rebound in the Sensex which rose 0.51% to 33,423.61. Volume moderated to 91,148 shares. This uptick, however, did little to offset the week’s overall losses and persistent bearish sentiment.
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Daily Price Performance vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-03-16 | Rs.6.05 | -0.66% | 33,673.11 | +0.47% |
| 2026-03-17 | Rs.6.04 | -0.17% | 33,940.18 | +0.79% |
| 2026-03-18 | Rs.5.99 | -0.83% | 34,329.13 | +1.15% |
| 2026-03-19 | Rs.5.86 | -2.17% | 33,255.16 | -3.13% |
| 2026-03-20 | Rs.5.94 | +1.37% | 33,423.61 | +0.51% |
Key Takeaways
Negative Signals: The stock’s 2.46% weekly decline significantly underperformed the Sensex’s 0.28% fall, reflecting persistent weakness. The fresh 52-week low of Rs.5.55 and the downgrade to Strong Sell underscore deteriorating fundamentals and bearish technical momentum. Elevated leverage with a Debt to EBITDA ratio of 3.39 times and sluggish sales growth at 8.11% annually highlight financial constraints. Technical indicators such as daily moving averages and Bollinger Bands remain bearish, signalling continued downside risk.
Positive Aspects: Despite challenges, valuation metrics like the Enterprise Value to Capital Employed ratio of 0.7 suggest the stock is trading at a discount relative to its capital base. Some monthly technical indicators, including RSI and MACD, show mild bullishness, indicating potential for stabilisation. The slight recovery on 20 March hints at possible short-term support.
Conclusion
Super Tannery Ltd’s performance this week reflects a company grappling with fundamental and technical headwinds amid a volatile market backdrop. The stock’s decline to a 52-week low and the MarketsMOJO downgrade to Strong Sell highlight significant risks, including weak profitability, high leverage, and subdued growth. While valuation discounts offer some appeal, the prevailing bearish technical signals and underperformance relative to the Sensex suggest caution. Investors should closely monitor the stock’s ability to stabilise amid these challenges before considering any repositioning.
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