Manaksia Steels Ltd. Hits Upper Circuit on BSE, 28 September 2026

On 28 September 2026, Manaksia Steels Ltd. (MANAKSTEEL) hit the upper circuit on BSE at Rs 111.28, a 4.99% positive move from the previous close of Rs 105.99. The company's market cap stood at Rs 694.6 crore. The upper circuit price for the session was Rs 111.28.

The move was driven by buying interest against the exchange-defined price band. At the time of writing the stock was locked at its upper circuit level, which makes the session worth noting for short-term market participants.

Key Takeaways

• Manaksia Steels Ltd. (MANAKSTEEL) hit the upper circuit on BSE at Rs 111.28 on 28 September 2026.
• The session move was +4.99% against a previous close of Rs 105.99.
• Market capitalisation stood at Rs 694.6 crore with a PE ratio of 12.39.
• No official company announcement or verified catalyst was confirmed at the time of writing.
• A price band is an exchange trading rule, not a view on the company or a recommendation.

Key Market Data

Metric	Value
Stock	Manaksia Steels Ltd.
Current Price / LTP	Rs 111.28
Day Move	4.99%
Previous Close	Rs 105.99
Day Open	Rs 102.5
Day High	Rs 111.28
Day Low	Rs 102.5
Upper Circuit Price	Rs 111.28
Upper Circuit Limit	Rs 111.28
Market Cap	Rs 694.6 crore
Selected Exchange	BSE
PE Ratio	12.39

All figures above are as of 28 September 2026, sourced from Univest market data for the BSE listing. Only fields present in the source for this session are shown.

Price Action and Trading Activity

Manaksia Steels Ltd. opened at Rs 102.5 on BSE, compared with a previous close of Rs 105.99. During the session, the stock traded between Rs 102.5 and Rs 111.28 before touching the upper circuit price of Rs 111.28.

The absolute day change was Rs 5.29, while the percentage move was 4.99%. The event figures are kept to a single exchange so the numbers stay comparable.

The selected exchange matters because price bands, day range and previous-close values can differ across exchanges. This article uses BSE consistently for the event table and narrative. The stated upper circuit limit for the session was Rs 111.28, which is the level the price reached.

Why Manaksia Steels Ltd. Hit Upper Circuit

Manaksia Steels Ltd. hit the upper circuit after buying interest pushed the stock to its exchange-defined price band. No official company announcement or verified external catalyst was confirmed at the time of writing, so the move should be read primarily through price action and market sentiment.

Because no verified catalyst was available, this article does not attribute the move to earnings, corporate action, sector news, or market rumours. If a confirmed announcement becomes available later, it should be added as a separate update.

Within the session the stock reached the upper circuit level of Rs 111.28.

What the Upper Circuit Means

An upper circuit is the maximum price level a stock is allowed to reach during a trading session under the applicable exchange price band. For Manaksia Steels Ltd., the captured upper circuit price was Rs 111.28 on 28 September 2026.

The circuit mechanism is meant to slow extreme price movement and keep trading orderly. It is a market-structure fact, not a return forecast. In this article, the upper circuit explains what happened in the session and where the price band was reached.

Manaksia Steels Ltd. Fundamentals and Valuation

Available market data gives a fuller picture than price action alone. For Manaksia Steels Ltd., PE ratio was 12.39, PB ratio was 1.99, book value was Rs 53.2, EPS was 8.56, ROE was 12.97%, ROCE was 14.48%, dividend yield was 0% and debt-to-assets ratio was 0.46, on a market cap of Rs 694.6 crore. These are available financial indicators and should not be read as a buy, sell, or hold view.

At the reported PB ratio of 1.99, the market valued Manaksia Steels Ltd. above its reported book value per share. That premium can reflect growth expectations, asset quality, or simply thin trading in a smaller counter.

For investors tracking upper circuit moves, these metrics help separate the price event from the broader financial profile. A sharp one-day move can attract attention, but valuation and return ratios still need to be reviewed separately.

Peer and Sector Context

Manaksia Steels Ltd. belongs to the Steel & Iron Products industry within the Iron & Steel sector. The peer table below uses available companies from the same sector or industry to give broader valuation context.

Peer Company	Market Cap	PE	PB	ROE
Ratnaveer Precision Engineering Ltd.	Rs 2804.82 crore	43.62	2.69	12.81%
Pennar Industries Ltd.	Rs 2502.62 crore	17.59	2.07	12.87%
Mukand Ltd.	Rs 2412.35 crore	3.81	1.53	48.88%
Prakash Industries Ltd.	Rs 2126.6 crore	6.79	0.58	9.65%
Mahamaya Steel Industries Ltd.	Rs 2051.34 crore	205.34	12.75	5.24%

Several of these peers are far larger by market capitalisation than Manaksia Steels Ltd. Size differences change liquidity and cost of capital, so the table is sector context rather than a like-for-like ranking.

Manaksia Steels Ltd.'s PE ratio was 12.39, compared with an available peer PE average of 55.43, calculated from the 5 peer companies that had a PE on record. This comparison is a valuation reference point, not a recommendation.

Technical Snapshot

The technical snapshot adds context: RSI was 73.61, the 50-day moving average was 101.19 and the 200-day moving average was 76.18.

What Readers Should Know

The main confirmed fact is that Manaksia Steels Ltd. hit the upper circuit on BSE at Rs 111.28 on 28 September 2026, with a 4.99% day move.

The practical limitation after an upper-circuit session is execution. Buyers queue at the band and sellers step back, so the quoted price is not necessarily a price you can transact at. The other limitation is that no official catalyst was confirmed at the time of writing.

Readers should treat upper circuit events as market updates, not standalone investment conclusions. The price band shows strong near-term interest, but follow-up analysis should consider business fundamentals, valuation, liquidity, risk, and confirmed company disclosures.

Frequently Asked Questions

Why did Manaksia Steels Ltd. hit upper circuit on 28 September 2026?

The stock reached its upper price band after buying interest during the session. No official company announcement or verified external catalyst was confirmed at the time of writing.

What was MANAKSTEEL share price on 28 September 2026?

The last traded price used in this article was Rs 111.28 on BSE. That price matched the upper circuit price captured for the event.

What was the upper circuit price for MANAKSTEEL?

The upper circuit price was Rs 111.28. The stated exchange upper circuit limit was Rs 111.28. The event numbers in this article are aligned to BSE.

What is Manaksia Steels Ltd.'s market cap and PE ratio?

Manaksia Steels Ltd.'s market cap was Rs 694.6 crore. PE ratio was 12.39.

Which exchange and data source were used?

The selected exchange was BSE. The article uses Univest market data available at the time of generation, captured on 28 September 2026.

Does hitting an upper circuit mean Manaksia Steels Ltd. is a buy or a sell?

No. A circuit is an exchange price-band rule that caps how far a stock can move in a single session. It carries no view on valuation or business quality and is not a recommendation. Any decision should rest on fundamentals, valuation, liquidity and your own risk tolerance.

Can you buy or sell Manaksia Steels Ltd. shares when the stock is at the upper circuit?

It is usually difficult. At the upper circuit, buy orders queue up while sellers step back, so there may be no counterparty at the quoted price. Orders can stay unfilled until the band opens up or sellers return.

What happens the next trading session after an upper circuit?

There is no fixed outcome. The band resets each session, so the stock can open freely, hit the same band again, or reverse. The exchange can also revise the applicable band width. The useful signals to watch are whether the company files any disclosure explaining the move.

What is the upper circuit limit set at for Indian stocks?

Exchange price bands are commonly set at 2%, 5%, 10% or 20% depending on the security, and the applicable band can be revised by the exchange. For Manaksia Steels Ltd. the stated limit was Rs 111.28. For this session, Manaksia Steels Ltd. moved 4.99%.

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