Usha Martin, Jai Balaji Industries shares jump up to 12% on heavy volumes

Usha Martin and Jai Balaji Industries gained 12 per cent and 9 per cent, respectively, so far on the National Stock Exchange (NSE) on Wednesday.

Usha Martin and Jai Balaji Industries share prices jumped in Wednesday’s session backed by heavy trading volumes. The scrips gained 12 per cent and 9 per cent, respectively, so far on the National Stock Exchange (NSE). 

The total traded volume at Usha Martin counter surged more than 45 times to its 30-day average so far, while Jai Balaji Industries saw its trade volume exceed 22 times its average on the NSE, according to data on Bloomberg. 

Usha Martin share price trades higher

Usha Martin share price jumped as much as 8.6 per cent to the day’s high of ₹441, the highest level since February 11 on the NSE. The scrip was trading 6.14 per cent higher at ₹431 as of 12:52 PM. 

Around 6.9 million shares of the company changed hands on NSE so far at the average traded price of ₹434.14 per share. Usha Martin saw a total trade of 0.3 million shares in the previous session, according to data on NSE.  

In a recent development, Usha Martin received a caution letter from BSE. The caution letter is with respect to the shareholding pattern filed for the quarter ended March 31, 2025.  

BSE raised a query for a change in the number of promoters of the company compared to the previous period/quarter shareholding pattern, according to an exchange filing.  

Usha Martin replied that, on account of the acquisition of equity shares by an immediate relative of the promoter, such immediate relative was added as a part of the promoter group. Subsequently, BSE cautioned that the relative should have been noted as part of the promoter group earlier.  

BSE has advised Usha Martin to implement stricter due diligence and corrective measures to ensure future compliance with the Securities Exchange Board of India (Sebi) listing regulations and prevent a recurrence of identified lapses, the company said in an exchange filing. 

Technical view

Usha Martin is a consistent performer among its peers. Ongoing profit-taking from its all-time highs found support at its one-year exponential moving average (EMA). Overall, the chart structure remains strong as long as it holds above the ₹395 level on a closing basis. Looking ahead, we expect it to move north toward the ₹490–₹500 levels in the near term, said Vipin Kumar, assistant vice president, technical and derivatives research, Globe Capital Market 

Jai Balaji Industries trades near day’s high

Jai Balaji Industries share price rose as much as 11.9 per cent to the day’s high of ₹68.11 per share on NSE. The scrip was trading 10.3 per cent higher at ₹67.10 as of 12:53 PM. 

The counter has seen a trade of 18.9 million shares at an average traded price of ₹66.62 so far in today’s session as compared to the total traded quantity of 1.2 million shares in the previous session. 

Q3 results highlights

Jai Balaji Industries reported a net profit of ₹11.6 crore in the December quarter (Q3FY26), down 90.4 per cent Y-o-Y from ₹120.42 crore in the same quarter a year ago. 

The revenue of Jai Balaji Industries fell 19.6 per cent on year to ₹1,328.58 crore from ₹1,486.39 crore. Check details here.  

Technical view

Jai Balaji Industries has been trading in a lower high, lower low formation for nearly two years. The latest downswing found support around its previous swing low of ₹60. Since the chart structure remains weak, the stock is a candidate for an exit on a bounce toward the ₹75 level, said Kumar. 

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