Shares of Pavna Industries, an auto ancillary company, rallied sharply in Thursday’s session on February 19, even as the Indian stock market traded with deep cuts.
The small-cap stock opened the session at ₹23.40 apiece, slightly higher than the previous close of ₹23.20, but picked up momentum in early trade to hit a high of ₹28.45 apiece, marking an 20% jump.
The stock had last seen this level in mid-December. Today’s rally has pushed the stock’s month-to-date return to 46%, and if it holds around these levels toward the end of February, it will mark its biggest monthly jump since August 2023 and may also end its five-month losing streak, during which it had lost 57%.
Though there are no clear fundamental factors behind today’s rally, it appears that a strong spike in trading volumes has supported the stock in defying broader market weakness.
As of 1:00 PM, a total of 1.4 million shares on both the NSE and BSE had exchanged hands.
Pavna Industries Q3 results 2026
The company earlier this week announced its financial performance for the December-ended quarter, reporting consolidated revenue from operations of ₹108.3 crore, a 36% YoY jump, while EBITDA rose 30.15% YoY to ₹9.54 crore.
On the bottom line, the company’s profit after tax came in at ₹3.02 crore, a 297% jump over ₹0.76 crore posted in the same period last year.
During the quarter, the company said it signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to invest ₹250 crore over the next 3–5 years to develop an expanded manufacturing project in the state, aimed at strengthening production capabilities and supporting industrial growth.
It also announced the acquisition of an additional 4.33 acres of contiguous land near the upcoming Jewar Airport in Uttar Pradesh, marking its fourth strategic land purchase in the area to strengthen long-term capacity expansion and infrastructure development.
The company is engaged in the business of manufacturing a wide range of automotive parts for OEMs serving different vehicle segments, including passenger vehicles, two-wheelers, three-wheelers, heavy and light commercial vehicles, and off-road vehicles.
Indian stock market under pressure
The Indian stock market is witnessing heavy selling, with both the Nifty 50 and the Sensex falling nearly 1% at their day’s low as tensions in the Middle East resurface, while the recent rally appears to have triggered profit booking.
Reports indicated that any US military action would likely unfold as a weeks-long campaign, with Israel’s government advocating an outcome aimed at regime change in the Islamic Republic.
A potential conflagration would put crude flows at risk in the Strait of Hormuz, a key chokepoint for energy exports from the world’s top oil-producing region.
Talks so far have been inconclusive, with Tehran saying it reached a “general agreement” with Washington on the terms of a potential deal, while Vice President JD Vance said Iran failed to address US red lines, and President Donald Trump reiterated that military force remains an option, Reuters reported.
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