) closed at ₹266.35 on September 18, 2026, up 0.99% (+₹2.60) from the previous close of ₹263.75, extending what's been an impressive run for this PSU engineering consultancy stock, even though its most recent quarterly results were far from strong. 1)The rally has been substantial. The stock is up nearly 26-28% over the past year and a striking 40.63% over just the past six months, with a further 9.81% gain in the last month alone, a stock clearly in favor with the market right now. 2)It's trading close to its 52-week high. At ₹266.35, the stock sits just below its 52-week high of ₹289.65 (hit on September 1) and far above its 52-week low of ₹163.55 (from January 2026), a dramatic recovery over the year. 3)Earnings tell a more cautious story. Q4 FY26 consolidated net profit fell sharply, down 30.12% YoY to ₹195.53 crore, on an 8.31% decline in revenue, the stock actually dropped over 7% on that news back in June. The fact that it has since rallied well past that level shows the market has looked past the weak quarter. 4)Technicals remain firmly bullish. Current readings show 12 bullish signals against just 4 bearish ones, with the stock trading above its 5, 10, 12, 20, 26, and 50-day moving averages, a genuinely strong technical setup. 5)Valuation has expanded alongside the price. The stock trades at a P/E of around 19-22x, reasonable for a PSU engineering name, though no longer as cheap as it was earlier in the year given the sharp price appreciation.

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