Key Events This Week
21 Sep: Upper circuit hit at ₹9.87 (+5.00%) amid strong buying pressure
22 Sep: Another upper circuit surge to ₹10.36 (+4.96%) with rising delivery volumes
23 Sep: Mojo rating upgraded to Hold; stock hits upper circuit at ₹10.87 (+4.92%)
24 Sep: Sharp reversal with a 4.97% drop to ₹10.33 amid heavy put options activity
25 Sep: Lower circuit triggered at ₹9.82 (-4.94%) on heavy selling pressure
21 September: Upper Circuit Hit Signals Strong Buying Momentum
Super Tannery Ltd surged to hit its upper circuit limit on 21 Sep 2026, closing at ₹9.87, a 5.00% gain. The stock traded between ₹9.21 and ₹9.87, with volumes reaching 1.99 lakh shares, reflecting heightened investor interest. Despite this short-term strength, the stock remained below all key moving averages, indicating a longer-term downtrend. The regulatory freeze due to the upper circuit hit suggested unfilled demand and strong bullish sentiment, although the company’s mojo score was still a cautious 44.0 with a Sell rating prior to the upgrade.
22 September: Continued Surge and Delivery Volume Spike Amid Market Divergence
The momentum carried into 22 Sep 2026, with Super Tannery again hitting the upper circuit at ₹10.36 (+4.96%). Delivery volumes surged by 180.1% compared to the five-day average, signalling genuine investor accumulation rather than speculative intraday trading. However, the stock underperformed its sector and the Sensex, which declined by 0.32%. The micro-cap nature and limited liquidity continued to influence price swings. The stock’s technical weakness persisted despite the rally, with all moving averages still above the price.
Just announced: This Small Cap from Tyres & Allied with precise target price is our pick for the week. Get the pre-market insights that informed this selection!
- - Just announced pick
- - Pre-market insights shared
- - Tyres & Allied weekly focus
23 September: Mojo Upgrade and Another Upper Circuit Amid Mixed Fundamentals
On 23 Sep 2026, Super Tannery Ltd’s mojo rating was upgraded from Sell to Hold by MarketsMOJO, reflecting improved technical indicators despite flat quarterly financials and ongoing fundamental challenges. The stock closed at ₹10.87, hitting the upper circuit with a 4.92% gain. Technical indicators such as MACD and Bollinger Bands showed bullish momentum, but the stock remained below all moving averages. Delivery volumes declined by 14.79%, suggesting waning investor participation. The upgrade to Hold was supported by the stock’s discounted valuation and strong multi-year returns, but concerns over high promoter pledging (51.12%) and rising debt persisted.
24 September: Sharp Reversal Amid Heavy Put Options Activity
The bullish streak reversed sharply on 24 Sep 2026, with the stock falling 4.97% to ₹10.33. This decline coincided with heavy put options activity, indicating increased bearish sentiment or hedging by market participants. Trading volumes dropped significantly to 29,772 shares, reflecting reduced investor interest. The Sensex also declined sharply by 1.62%, but Super Tannery’s drop was more pronounced. The stock’s technical weakness was reaffirmed as it continued trading below key moving averages, and the sudden reversal raised caution about the sustainability of the earlier rally.
Holding Super Tannery Ltd from ? See if there's a smarter choice! SwitchER compares it with peers and suggests superior options across market caps and sectors!
- - Peer comparison ready
- - Superior options identified
- - Cross market-cap analysis
25 September: Lower Circuit Hit on Heavy Selling Pressure
The week ended with a dramatic sell-off on 25 Sep 2026, as Super Tannery Ltd plunged to its lower circuit limit at ₹9.82, down 4.94%. The stock traded within a narrow band at the circuit price, with volumes of 3,638 shares, indicating scarce buyer interest amid intense selling. This decline came despite the Sensex gaining 0.18% and the sector showing marginal gains. Delivery volumes had sharply declined the previous day, signalling reduced investor conviction. The stock’s technical position remained weak, trading below all major moving averages, and the micro-cap status contributed to heightened volatility and liquidity constraints.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-09-21 | ₹9.87 | +5.00% | 35,787.64 | +0.46% |
| 2026-09-22 | ₹10.36 | +4.96% | 35,672.04 | -0.32% |
| 2026-09-23 | ₹10.87 | +4.92% | 35,870.78 | +0.56% |
| 2026-09-24 | ₹10.33 | -4.97% | 35,291.38 | -1.62% |
| 2026-09-25 | ₹9.82 | -4.94% | 35,353.29 | +0.18% |
Key Takeaways
Strong Short-Term Momentum: The stock’s multiple upper circuit hits early in the week demonstrate intense buying interest and short-term bullish sentiment, supported by rising delivery volumes and a mojo rating upgrade.
Technical Weakness Persists: Despite the rally, Super Tannery Ltd remains below all major moving averages, signalling a longer-term downtrend and cautioning against assuming sustained strength.
Volatility and Liquidity Risks: The micro-cap status and limited liquidity contribute to sharp price swings and regulatory circuit hits, increasing risk for investors, especially institutional players.
Mixed Fundamental Signals: The mojo upgrade to Hold reflects improved technicals and relative valuation, but flat quarterly results, high promoter pledging, rising debt, and weak long-term growth temper enthusiasm.
Investor Sentiment Fluctuations: The sharp reversal and lower circuit close on Friday highlight growing investor caution and profit-taking after a week of volatile gains.
Conclusion
Super Tannery Ltd’s week was marked by significant volatility, with strong buying driving multiple upper circuit hits and a mojo rating upgrade, followed by a sharp sell-off ending in a lower circuit close. The stock outperformed the Sensex by 5.23% over the week, but its technical and fundamental challenges remain evident. Investors should be mindful of the stock’s micro-cap nature, limited liquidity, and mixed signals from financial and technical indicators. The Hold mojo rating suggests a cautious stance, with the need for close monitoring of upcoming corporate developments and market conditions before considering fresh exposure.
Only Rs. 9,999 - Get MojoOne + Stock of the Week for 1 Year Start at 33% Off →
