Variman Global Enterprises Ltd Gains 21.53%: 2 Key Factors Driving the Surge

Feb 14 2026 12:03 PM IST

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Variman Global Enterprises Ltd delivered a remarkable weekly gain of 21.53%, closing at Rs.5.25 on 13 Feb 2026, significantly outperforming the Sensex which declined by 0.54% over the same period. The stock’s steady ascent was supported by a series of positive developments, including a strong quarterly profit report and a notable upgrade in valuation attractiveness, despite some operational concerns. This review analyses the key events that shaped the stock’s performance during the week and places them in the context of broader market movements.

Key Events This Week

09 Feb: Stock opens at Rs.4.36, Sensex rises 1.04%

10 Feb: Stock surges 4.82% to Rs.4.57

11 Feb: Continued rally with 4.81% gain to Rs.4.79

12 Feb: Q3 results released; stock climbs 4.38% to Rs.5.00

13 Feb: Valuation upgrade drives 5.00% jump to Rs.5.25

Week Open

Rs.4.32

Week Close

Rs.5.25

+21.53%

Week High

Rs.5.25

vs Sensex

-0.54%

09 February 2026: Modest Start Amid Broad Market Gains

Variman Global began the week at Rs.4.36, marking a 0.93% increase from the previous Friday’s close of Rs.4.32. This modest gain came alongside a robust Sensex rally of 1.04%, which closed at 37,113.23. The stock’s volume of 119,243 shares indicated steady investor interest, setting the stage for the week’s upward momentum.

10 February 2026: Strong Momentum Builds with 4.82% Jump

The stock accelerated its gains on 10 February, climbing 4.82% to close at Rs.4.57 on increased volume of 122,316 shares. This outpaced the Sensex’s more subdued 0.25% rise to 37,207.34. The price action suggested growing investor confidence ahead of the company’s quarterly results announcement.

11 February 2026: Continued Rally on Heavy Volume

Variman Global maintained its bullish trajectory, adding 4.81% to close at Rs.4.79. The volume surged to 370,339 shares, reflecting heightened trading activity. Meanwhile, the Sensex edged up 0.13% to 37,256.72, underscoring the stock’s outperformance relative to the broader market.

12 February 2026: Q3 Results Spark Optimism

The company released its Q3 FY26 results, reporting a profit surge that masked deeper operational concerns. Despite modest returns on capital employed (0.52%) and equity (5.90%), the profit increase was well received by the market, pushing the stock up 4.38% to Rs.5.00 on a volume of 233,931 shares. The Sensex, in contrast, declined 0.56% to 37,049.40, highlighting Variman Global’s resilience amid broader market weakness.

13 February 2026: Valuation Upgrade Fuels 5% Gain

On the final trading day of the week, Variman Global’s share price surged 5.00% to Rs.5.25, buoyed by a valuation upgrade that shifted the company’s rating from attractive to very attractive. The price-to-earnings ratio of 45.14 and price-to-book value of 2.66 were cited as key factors underpinning this reassessment, despite elevated EV/EBITDA and EV/EBIT multiples. The Sensex fell sharply by 1.40% to 36,532.48, underscoring the stock’s strong relative performance.

Date	Stock Price	Day Change	Sensex	Day Change
2026-02-09	Rs.4.36	+0.93%	37,113.23	+1.04%
2026-02-10	Rs.4.57	+4.82%	37,207.34	+0.25%
2026-02-11	Rs.4.79	+4.81%	37,256.72	+0.13%
2026-02-12	Rs.5.00	+4.38%	37,049.40	-0.56%
2026-02-13	Rs.5.25	+5.00%	36,532.48	-1.40%

Key Takeaways from the Week

Variman Global Enterprises Ltd demonstrated robust price appreciation of 21.53% over the week, significantly outperforming the Sensex’s 0.54% decline. This outperformance was driven primarily by two factors: the strong Q3 profit report and a valuation upgrade that repositioned the stock as very attractive within its sector.

Despite the positive price action, operational metrics remain a concern. The company’s return on capital employed and return on equity are low, indicating limited efficiency in generating profits from invested capital. Elevated valuation multiples such as EV/EBITDA and EV/EBIT suggest that the market is pricing in expectations of future growth or recovery, which has yet to materialise in operational returns.

Comparative peer analysis highlights Variman Global’s relative valuation appeal, especially against sector players with significantly higher P/E ratios or loss-making statuses. However, the company’s Mojo Score of 26.0 and Strong Sell grade reflect ongoing caution among analysts, underscoring the need for investors to weigh valuation attractiveness against operational risks.

Conclusion: Valuation Appeal Amid Operational Headwinds

The week’s developments for Variman Global Enterprises Ltd paint a nuanced picture. The stock’s 21.53% gain and valuation upgrade to very attractive highlight renewed market interest and potential value recognition. However, the company’s weak operational returns and strong sell rating temper enthusiasm and suggest caution.

Investors should consider the stock’s significant outperformance relative to the Sensex alongside its modest returns on capital and equity. The elevated valuation multiples imply expectations of a turnaround that remains to be proven. As such, Variman Global presents a complex case where valuation appeal coexists with operational challenges, warranting close monitoring of future financial results and market conditions.

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MOJO SCORE