Key Events This Week
23 Feb: Stock opens at Rs.3,594.75, up 1.06%
24 Feb: Sharp 4.13% gain on upgrade to Strong Buy
25 Feb: Continued bullish momentum with 2.40% rise
26 Feb: Further gains of 1.96% amid positive technical signals
27 Feb: Week closes at Rs.3,962.10, up 1.38% despite Sensex decline
23 February 2026: Steady Start Amid Market Gains
Thangamayil Jewellery Ltd began the week on a positive note, closing at Rs.3,594.75, a 1.06% increase from the previous Friday’s close of Rs.3,557.20. This outpaced the Sensex’s 0.39% gain to 36,817.86. The stock’s volume was moderate at 7,383 shares, reflecting steady investor interest. The initial rise set the tone for the week, signalling underlying strength despite broader market volatility.
24 February 2026: Upgrade to Strong Buy Spurs Sharp Rally
The most significant catalyst of the week came on 24 February, when MarketsMOJO upgraded Thangamayil Jewellery Ltd’s rating from Buy to Strong Buy. This upgrade was based on robust fundamentals, including a high Return on Capital Employed (16.15%), consistent quarterly growth, and strong management efficiency. The stock responded with a sharp 4.13% gain, closing at Rs.3,743.25 on heavy volume of 21,265 shares, despite the Sensex falling 0.78% to 36,530.09. The upgrade also highlighted the company’s impressive financial trends, such as a 79.08% surge in net profit in the latest quarter and a PEG ratio of 0.6, indicating undervaluation relative to growth.
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25 February 2026: Bullish Momentum Strengthens
The bullish momentum continued on 25 February, with the stock rising 2.40% to close at Rs.3,833.00 on a volume of 6,326 shares. This gain came despite a 0.41% rise in the Sensex to 36,679.75, indicating the stock’s relative strength. Technical indicators showed a shift from mildly bullish to bullish, supported by positive moving averages and Bollinger Bands signalling strong price momentum. The stock traded within a range of Rs.3,564.75 to Rs.3,820.00 intraday, reflecting healthy volatility and sustained buying interest.
26 February 2026: Continued Gains Amid Positive Technical Signals
On 26 February, Thangamayil Jewellery Ltd added another 1.96%, closing at Rs.3,908.20 with a volume of 12,484 shares. The Sensex also rose modestly by 0.19% to 36,748.49. Technical analysis revealed a mixed but overall positive picture: while weekly MACD and KST oscillators showed mild bearishness suggesting short-term consolidation, monthly indicators remained bullish. The stock’s daily moving averages stayed firmly positive, reinforcing the upward trend. Institutional investors’ holdings increased to 21.32%, up 1.46% from the previous quarter, signalling growing confidence in the company’s prospects.
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27 February 2026: Week Closes Strong Despite Market Weakness
The week ended on a positive note for Thangamayil Jewellery Ltd, which gained 1.38% to close at Rs.3,962.10 on a volume of 6,012 shares. This was in stark contrast to the Sensex’s 1.16% decline to 36,322.56. The stock’s ability to close near its weekly high despite broader market weakness underscores its resilience and strong investor demand. Technical indicators continued to favour the stock, with monthly MACD and Dow Theory assessments remaining bullish. The stock’s 52-week high stands at Rs.4,138.15, indicating room for further appreciation within the current uptrend.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.3,594.75 | +1.06% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.3,743.25 | +4.13% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.3,833.00 | +2.40% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.3,908.20 | +1.96% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.3,962.10 | +1.38% | 36,322.56 | -1.16% |
Key Takeaways
Strong Fundamental Upgrade: The upgrade to Strong Buy by MarketsMOJO on 24 February was a pivotal event, reflecting the company’s robust financial health, including a high ROCE of 16.15%, record quarterly sales of ₹2,405.83 crores, and a net profit surge of 79.08%. This fundamental strength underpinned the stock’s sharp gains and improved investor confidence.
Technical Momentum Shift: Technical indicators showed a clear shift from mildly bullish to bullish momentum, supported by positive moving averages and Bollinger Bands. Despite some mildly bearish weekly MACD and KST signals suggesting short-term consolidation, the monthly outlook remains decisively bullish, indicating sustained upward potential.
Outperformance vs Sensex: The stock outperformed the Sensex by a wide margin, gaining 11.38% over the week while the Sensex declined 0.96%. This relative strength highlights Thangamayil Jewellery Ltd’s resilience amid broader market volatility.
Institutional Confidence: Increased institutional holdings to 21.32% signal growing trust in the company’s governance and growth prospects, adding a layer of stability to the stock’s performance.
Valuation Considerations: While the stock trades at a premium with an EV/Capital Employed ratio of 6, its PEG ratio of 0.6 suggests valuation remains reasonable relative to growth, balancing quality with price.
Conclusion
Thangamayil Jewellery Ltd’s 11.38% weekly gain was driven by a combination of a fundamental upgrade to Strong Buy and a pronounced shift in technical momentum. The company’s strong financial performance, efficient capital utilisation, and positive market sentiment have positioned it well within the Gems, Jewellery and Watches sector. Despite some short-term technical caution signals, the overall outlook remains optimistic, supported by robust earnings growth and institutional backing. The stock’s significant outperformance relative to the Sensex during a volatile week underscores its resilience and appeal to investors focused on quality and momentum.
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