Gallantt Ispat Falls 6.88% as Q2 Profit Drops 32%

Gallantt Ispat shares fell 6.88% as Q2 FY27 profit dropped 32% to ₹60.5 crore. Key technical levels are ₹500 support and ₹680 resistance. Gallantt Ispat Limited [

] fell 6.88% to ₹583.10 in live trade on 21 October 2026 following the announcement of its Q2 FY27 results, which showed a sharp decline in profitability. Consolidated net profit fell 32% year-on-year to ₹60.5 crore from ₹88.9 crore. However, revenue increased 13.1% to ₹1,145.9 crore from ₹1,012.8 crore. Total expenses rose 17.1% to ₹1,080.9 crore, outpacing revenue growth and putting pressure on profitability. From a technical perspective, the stock recently moved above the ₹645 resistance level but failed to sustain the breakout, indicating selling pressure at higher levels. The broader trend remains sideways, with the stock trading within a ₹500–₹680 range for approximately three months. The Relative Strength Index (RSI) stands at 53.58, above its average of 47.54, suggesting relatively stable momentum. My View: ₹500 remains a crucial support, while ₹680 is the key resistance. A decisive breakout above ₹680 could signal renewed upward momentum, whereas a breakdown below ₹500 may trigger further weakness. Meanwhile, sustained selling pressure accompanied by rising volumes could increase the likelihood of a retest of the lower end of the range. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.