Market Performance and Price Action
The stock’s fall on 20 Feb 2026 was marked by a maximum daily loss of 4.95%, the highest permissible single-day decline under the current price band of ₹5. Trading volumes stood at 36,766 shares (0.36766 lakh), with a turnover of ₹0.0175 crore, indicating moderate liquidity given the company’s micro-cap status and market capitalisation of ₹14.00 crore. The stock’s high and low for the day were ₹4.93 and ₹4.69 respectively, with the last traded price (LTP) settling at the lower circuit price of ₹4.69.
Compared to the sector’s modest gain of 0.65% and the Sensex’s 0.58% rise, Tijaria Polypipes significantly underperformed, underscoring the severity of the sell-off. The stock’s underperformance relative to its sector by 3.23% on the day further highlights the selective nature of the decline, driven by company-specific factors rather than broader market weakness.
Technical and Trend Analysis
The stock is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a sustained downtrend and weak investor sentiment. The persistent decline over nine trading sessions has eroded confidence, with cumulative returns over this period at a negative 32.96%. This technical deterioration is consistent with the MarketsMOJO Mojo Grade downgrade from Sell to Strong Sell on 23 Dec 2024, reflecting a worsening fundamental and technical outlook.
Investor participation has shown signs of rising selling intensity. Delivery volume on 19 Feb surged to 16,140 shares, an 81.61% increase over the five-day average delivery volume, indicating that more investors are offloading their holdings rather than short-term traders. This spike in delivery volume ahead of the circuit hit suggests panic selling and a lack of buying interest to absorb the supply.
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Fundamental Context and Market Cap Considerations
Tijaria Polypipes operates within the Plastic Products - Industrial sector, a segment that has faced headwinds due to fluctuating raw material costs and subdued demand from end-user industries. The company’s micro-cap status, with a market capitalisation of ₹14.00 crore, places it in a vulnerable position amid volatile market conditions, where liquidity constraints can exacerbate price swings.
The MarketsMOJO Mojo Score of 17.0 and a Strong Sell grade reflect a comprehensive assessment of the company’s financial health, valuation, and technical trends. The downgrade from Sell to Strong Sell in late 2024 signals deteriorating fundamentals and heightened risk for investors. The stock’s liquidity profile, while adequate for small trade sizes, remains limited for larger institutional participation, which may contribute to the sharp price movements observed.
Supply-Demand Imbalance and Market Sentiment
The lower circuit hit is indicative of an unfilled supply overhang, where selling interest overwhelms buying demand, forcing the exchange to halt further declines temporarily. Such circuit limits are designed to prevent disorderly market behaviour, but they also highlight the intensity of panic selling gripping the stock.
Investor sentiment appears fragile, with the absence of meaningful buying support at current levels. The persistent downtrend and repeated lower circuit hits can trigger stop-loss orders and margin calls, further accelerating the sell-off. This negative feedback loop often deters new buyers, prolonging the correction phase.
Given the stock’s underperformance relative to its sector and benchmark indices, investors should exercise caution and closely monitor developments. The technical and fundamental signals suggest that the stock may continue to face downward pressure unless there is a significant improvement in company performance or sector dynamics.
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Investor Takeaway and Outlook
For investors currently holding Tijaria Polypipes Ltd, the prevailing market conditions and technical indicators suggest a cautious stance. The strong sell rating and ongoing downtrend imply that further downside risk remains significant. Prospective buyers should await signs of stabilisation, such as a sustained break above key moving averages or a reduction in selling pressure.
Meanwhile, the stock’s micro-cap status and limited liquidity mean that price volatility may persist, and sudden moves cannot be ruled out. Monitoring delivery volumes and price action in the coming sessions will be critical to gauge whether the panic selling is abating or intensifying.
In summary, Tijaria Polypipes Ltd’s lower circuit hit on 20 Feb 2026 underscores the challenges facing the company amid a difficult sectoral environment and weak investor sentiment. The combination of technical weakness, deteriorating fundamentals, and unfilled supply suggests that the stock remains under pressure in the near term.
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