Viji Finance Ltd Surges to Upper Circuit Amid Strong Buying Pressure

Stock Performance and Market Context

On 18 Feb 2026, Viji Finance Ltd’s equity shares reached the maximum permissible price band of 5%, closing at ₹2.18, up ₹0.07 from the previous close. The stock’s intraday high touched ₹2.21, while the low was ₹2.10, indicating a volatile but predominantly upward trend. Total traded volume stood at approximately 2.89 lakh shares, generating a turnover of ₹0.0619 crore. This volume reflects a moderate level of liquidity for a micro-cap stock with a market capitalisation of ₹29.00 crore.

In comparison, the Non Banking Financial Company (NBFC) sector recorded a modest 0.54% gain, while the Sensex remained nearly flat with a 0.03% increase. Viji Finance’s 1-day return of 4.74% notably outperformed both benchmarks, signalling heightened investor interest despite the company’s subdued medium-term outlook.

Technical Indicators and Moving Averages

Despite the day’s rally, Viji Finance remains below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests that the stock is still in a broader downtrend, with the recent price surge potentially driven by short-term speculative buying rather than a fundamental turnaround.

Investor participation, as measured by delivery volume, has declined sharply. On 17 Feb 2026, delivery volume was 3.54 lakh shares, down 28.58% compared to the 5-day average. This drop indicates that while trading volumes have increased, fewer investors are holding shares for the long term, which may limit the sustainability of the rally.

Regulatory Constraints and Market Impact

The upper circuit hit triggered an automatic regulatory freeze on further trading in Viji Finance shares for the remainder of the day, a mechanism designed to curb excessive volatility and protect investors. This freeze prevented additional transactions at higher prices, leaving a significant portion of demand unfilled. The unexecuted buy orders suggest that investor enthusiasm remains elevated, but supply constraints and regulatory limits have capped the price movement for now.

Such upper circuit events often attract speculative interest, especially in micro-cap stocks where liquidity is limited and price swings can be exaggerated. However, the underlying fundamentals of Viji Finance remain a concern. The company operates within the NBFC sector, which has faced headwinds due to tightening credit conditions and regulatory scrutiny.

Fundamental Analysis and Mojo Ratings

Viji Finance currently holds a Mojo Score of 29.0, categorised as a Strong Sell by MarketsMOJO, reflecting weak financial health and poor growth prospects. This rating was downgraded from Sell on 21 Jan 2026, signalling deteriorating fundamentals. The company’s market cap grade is 4, indicating a micro-cap status with inherent liquidity and volatility risks.

Investors should note that despite the recent price surge, the stock trades below all major moving averages and has experienced falling investor participation. These factors, combined with the strong sell rating, suggest caution for those considering new positions.

Trading Volumes and Liquidity Considerations

Liquidity remains a critical factor for Viji Finance. The stock’s turnover of ₹0.0619 crore on 18 Feb 2026 is modest, and based on 2% of the 5-day average traded value, the stock can accommodate a trade size of approximately ₹0 crore without significant price impact. This limited liquidity means that even moderate buying or selling pressure can cause sharp price movements, as evidenced by the upper circuit event.

Such conditions often attract short-term traders and speculators, but they also increase the risk of sudden reversals. Long-term investors should weigh these risks carefully against the company’s fundamental outlook.

Investor Takeaways and Outlook

Viji Finance’s upper circuit event on 18 Feb 2026 highlights the stock’s potential for sharp short-term price movements driven by speculative demand. However, the company’s fundamental challenges, reflected in its strong sell rating and weak technical positioning, caution against viewing this rally as a sustainable recovery.

Investors should monitor upcoming financial disclosures and sector developments closely. Given the stock’s micro-cap status and limited liquidity, price volatility is likely to persist. Those seeking exposure to the NBFC sector may find better risk-adjusted opportunities elsewhere, particularly among companies with stronger balance sheets and more favourable growth prospects.

In summary, while the upper circuit hit signals strong buying interest, it also underscores the risks inherent in trading micro-cap stocks like Viji Finance. A balanced approach, incorporating both technical and fundamental analysis, is essential for navigating this volatile landscape.

Summary of Key Metrics:

• Closing Price (18 Feb 2026): ₹2.18
• Daily Gain: 3.32%
• Intraday High/Low: ₹2.21 / ₹2.10
• Traded Volume: 2.89 lakh shares
• Turnover: ₹0.0619 crore
• Mojo Score: 29.0 (Strong Sell)
• Market Cap: ₹29.00 crore (Micro Cap)
• Sector 1D Return: 0.54%
• Sensex 1D Return: 0.03%

Investors should remain vigilant and consider the broader market context before making investment decisions involving Viji Finance Ltd.

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