Short term swing trade (C): Automobile stock | 6-7% target | Indian stock trading tips on 17 Feb 2026

NOTE

Closing Price: ₹444 (as of Feb 16, 2026)
StopLoss*: Apply on the daily close. After the first target, reset the StopLoss to your buying price.
Duration^: Approximate holding period based on the active trading days (excluding market holidays). Actual holding may vary with the market conditions.
Upside Potential#: Based on median of the suggested buy range.

M M Forgings Limited is an Indian company engaged in manufacturing and selling steel forgings. Its products are used across passenger vehicles, commercial vehicles, off-highway, agriculture, oil & gas, and engineering applications.

The company was founded in 1945, renamed from The Madras Motors Ltd to M M Forgings Limited in 1993, and is headquartered in Chennai, India.

Website: https://www.mmforgings.com/

Q2 FY26 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Soft quarter: Q2 FY26 revenue was flat to slightly lower YoY, while PAT fell ~48% due to weak demand and higher costs.
Domestic vs exports: domestic sales were largely stable, but exports declined by ~₹28 crore, driven by a slowdown in the US Class-VIII truck market; Europe provided partial support.
Margins: EBITDA margin moderated to ~19% in H1 FY26 (operational ~17.5%) from ~21% last year, indicating pressure but still healthy levels.
Capex & outlook: the company continues with a large ₹1,260-crore expansion. Management expects H2 FY26 revenue of ₹750–800 crore, sees demand near the bottom with recovery from June 2026, and expects initial EV subsidiary sales to contribute ₹20–30 crore annually.

Financial Highlights

Metric	Q2 FY26 (Sep 2025)	Q1 FY26 (Jun 2025)	Q2 FY25 (Sep 2024)	QoQ Change	YoY Change
Revenue / Total Income (₹ cr)	384	369	405	+4.1%	-5.2%
EBITDA (₹ cr)	70	72	84	-2.8%	-16.7%
Profit After Tax (₹ cr)	16	22	32	-27.3%	-50.0%
EPS - Basic (₹)	3.43	4.63	6.61	-25.9%	-48.1%
EBITDA Margin (%)	18	19.5	20.7	-1.5 pp	-2.7 pp
PAT Margin (%)	4.3	5.2	7.9	-0.9 pp	-3.6 pp

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Technical Analysis

Key Observations

The stock has broken above the trendline resistance after a downtrend and is holding above it.
If bullish momentum persists, the price is likely to move higher from current levels.

Technical Image - Daily Timeframe

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	55.26	Neutral
CCI-14	44.39	Neutral
MFI	68.52	Neutral
ROC	8.47	Positive
Stochastic %K	82.84	OverBought
William %R	-35.87	Neutral

Exponential Moving Averages (EMAs)

17022026 - MMFL - EMAs

EMA	Value	Stock Position
5 EMA	457	Below
10 EMA	449	Below
20 EMA	435	Above
50 EMA	403	Above
100 EMA	379	Above
200 EMA	380	Above

Conclusion

M M Forgings Stock Price Forecast

Based on our stock trading signals, the M M Forgings price target will be INR 455 - INR 460 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

Buy within the recommended price range. You may allow up to 1% flexibility beyond the range if needed.
No need to rush. The recommendation remains valid for up to 7 days, not just at market open.
Use a trailing stop-loss to protect and lock in profits.
Diversify your trading capital across our other recommended stocks to reduce risk.
Invest responsibly. Trade only with funds you can afford to lose and hedge positions where appropriate.

Analyst Summary

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

Your Return Could be Much Better

Increase your Profitable!

10—12 swing trade advice / month
expected upside 6%—8% per trade
short term trade holding 1-2 weeks
minimum capital required ₹2.5 lakh
receive trade advice before 9:00 am
trade ideas by blackbox system, relied on statistics, technical, fundamental, macroeconomics and sentiment
Stocks only — no intraday or F&O