Even as benchmark indices declined more than 1 per cent, shares of Pavna Industries Limited traded in the green on Thursday. The company, which supplies auto components to major automakers including Bajaj, Kawasaki, Honda, TVS, Mahindra, Escorts and Royal Enfield, saw strong buying interest during the session. The stock opened in the red at Rs 23.40 against the previous close of Rs 23.74 on the BSE. However, it rallied to an intraday high of Rs 28.45, marking a gain of 19.83 per cent. At the time of the last trade, the scrip was quoting at Rs 25.28, up 6.49 per cent. The company’s market capitalisation stood at Rs 352.73 crore.
Stock Under ST ASM-1 Framework
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
The stock’s 14-day Relative Strength Index (RSI) stands at 82.46. For reference, an RSI level above 70 is considered overbought or overvalued, while a level below 30 is regarded as oversold or undervalued.
From a technical perspective, the stock is trading above its 5-day, 20-day and 50-day moving averages but below its 100-day and 200-day moving averages.
Strong Q3FY26 Financial Performance
The company reported robust financial performance for the December quarter (Q3FY26).
Consolidated profit after tax (PAT) surged 297.37 per cent year-on-year to Rs 3.02 crore, compared to Rs 0.76 crore in the same quarter last year.
EBITDA grew 30.15 per cent year-on-year to Rs 9.54 crore in Q3FY26. Revenue also registered strong growth of 36 per cent to Rs 108.03 crore, reflecting a solid improvement over the corresponding quarter of the previous year.
Broader Market Update
Earlier in the day, benchmark indices Sensex and Nifty opened on a positive note but soon slipped into negative territory amid selling pressure in services and consumer durables stocks.
The 30-share BSE Sensex rose 245.11 points, or 0.29 per cent, to 83,979.36 in early trade. Meanwhile, the NSE Nifty gained 65.95 points, or 0.25 per cent, to 25,885.30.
