Bombay Dyeing shares zoom 16%; more upside ahead or time to book profits?

Shares of Bombay Dyeing & Manufacturing Company Ltd soared 15.56 per cent in Wednesday's trade to hit a high of Rs 190.85. The stock witnessed heavy trading volume along with the price action as around 70.08 lakh shares were last seen changing hands on BSE. The figure was way more than the two-week average volume of 94,000 shares. Turnover on the counter came at Rs 129.45 crore, commanding a market capitalisation (m-cap) of Rs 3,893.18 crore.

Today's surge in Bombay Dyeing's share price is likely driven by news of a promoter group member assuming a leadership role, said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities. He added that existing investors may consider holding the stock with a long-term view. According to The Economic Times, Jehangir 'Jeh' Wadia, the younger son of Wadia Group chairman Nusli Wadia, has rejoined the family business after a four-year hiatus. At 52, Jeh is focusing on reviving legacy businesses while also exploring new ventures alongside his brother Ness (54) and father Nusli (81), the group's patriarch.

Technically, one analyst noted that Bombay Dyeing is likely to trade in the Rs 175–195 range in the near term, while another suggested profit booking at current levels, citing bullish yet overbought conditions.

Sebi-registered independent analyst AR Ramachandran said, "Bombay Dyeing's stock is currently bullish but appears overbought on daily charts, with the next resistance seen at Rs 194. Investors are advised to book profits, as a daily close below the support level of Rs 171 could trigger a decline towards Rs 155 in the near term."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 175 and immediate resistance at Rs 189. A sustained move above Rs 189 could push the stock towards Rs 195, with the near-term trading range seen between Rs 175 and Rs 195.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 72.13. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-earnings (P/E) ratio of 7.95 against a price-to-book (P/B) value of 1.57. Earnings per share (EPS) stood at 23.72 with a return on equity (RoE) of 19.75.

As of June 2025, promoters held a 53.58 per cent stake in the Mumbai-headquartered textile company.