Key Events This Week
Feb 9: Stock opens at ₹159.05, down 0.47% amid strong Sensex gains
Feb 10: Mildly bearish technical shift noted; stock rallies 2.73% to ₹163.40
Feb 11: Q3 FY26 results reveal profit surge but flat revenue; stock dips 1.65%
Feb 12-13: Valuation downgrade and market volatility drive stock down 8.22% over two days
Monday, 9 February 2026: Weak Start Despite Sensex Rally
Vikram Thermo opened the week at ₹159.05, down 0.47% from the previous Friday’s close of ₹159.80. This decline contrasted with a robust Sensex gain of 1.04%, which closed at 37,113.23. The stock’s modest fall amid a broadly positive market suggested early investor caution, possibly reflecting residual concerns from prior weeks. Trading volume was relatively low at 3,306 shares, indicating subdued participation.
Tuesday, 10 February 2026: Technical Shift Spurs 2.73% Rally
On 10 February, Vikram Thermo rebounded strongly, gaining 2.73% to close at ₹163.40 on increased volume of 10,906 shares. This rally coincided with a mildly bearish technical shift reported that day, where momentum indicators such as MACD and Bollinger Bands suggested a nuanced outlook. While the stock remained technically cautious, the intraday high of ₹163.80 marked the week’s peak price. The Sensex also advanced by 0.25%, closing at 37,207.34, but the stock’s outperformance was notable.
Wednesday, 11 February 2026: Q3 Results Temper Gains
Following the release of Q3 FY26 results, Vikram Thermo’s stock retreated 1.65% to ₹160.70 despite a surge in profit. The quarterly report highlighted a profit increase that masked flat revenue growth and margin pressures, signalling operational challenges. Volume surged to 31,543 shares, reflecting heightened investor activity. The Sensex edged up 0.13% to 37,256.72, but the stock’s decline indicated profit-taking and cautious sentiment amid mixed fundamentals.
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Thursday, 12 February 2026: Sharp Decline Amid Market Weakness
The stock fell sharply by 3.70% to ₹154.75 on 12 February, with volume at 25,129 shares. This decline occurred alongside a 0.56% drop in the Sensex to 37,049.40, reflecting broader market volatility. The day’s trading range between ₹149.70 and ₹162.90 underscored increased price swings. The technical outlook remained mildly bearish, with momentum oscillators and moving averages signalling subdued buying interest. Investors appeared to react to the lack of revenue growth and margin concerns from the prior day’s results.
Friday, 13 February 2026: Valuation Downgrade Weighs on Price
On the final trading day of the week, Vikram Thermo declined a further 4.52% to close at ₹147.75, marking the week’s low. Volume remained elevated at 21,882 shares. This drop followed a valuation downgrade from 'very expensive' to 'expensive' and a Mojo Grade downgrade to Sell, signalling a reassessment of the stock’s price attractiveness amid ongoing market volatility. The Sensex fell 1.40% to 36,532.48, but the stock’s underperformance was pronounced. Despite strong profitability metrics such as a 34.32% ROCE and 24.80% ROE, the market’s cautious stance reflected concerns over premium valuations and sector cyclicality.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.159.05 | -0.47% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.163.40 | +2.73% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.160.70 | -1.65% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.154.75 | -3.70% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.147.75 | -4.52% | 36,532.48 | -1.40% |
Key Takeaways
Mixed Technical Signals: The week began with a mildly bearish technical shift, reflecting subdued momentum despite a midweek rally. Indicators such as MACD and Bollinger Bands suggested indecision, with volume failing to confirm sustained buying interest.
Quarterly Results Impact: The Q3 FY26 earnings report showed a profit surge but flat revenue and margin pressures, tempering investor enthusiasm and contributing to the midweek price dip.
Valuation and Market Sentiment: The downgrade from 'very expensive' to 'expensive' and a Sell Mojo Grade reflected a reassessment of price attractiveness amid sector volatility. Despite strong ROCE and ROE, the stock’s premium valuation and recent price weakness signal caution.
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Conclusion
Vikram Thermo’s performance this week highlights the challenges facing the stock amid mixed technical signals, earnings that reveal operational pressures, and a valuation downgrade signalling reduced price attractiveness. The 7.54% weekly decline significantly outpaced the Sensex’s modest 0.54% fall, underscoring investor caution. While the company’s strong profitability metrics and long-term returns remain noteworthy, the current environment suggests a period of consolidation and reassessment. Investors should monitor technical levels and sector dynamics closely as the stock navigates this volatile phase.
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