Gallantt Ispat share price jumped over 15% on Monday, 12 October, amid a weak stock market. The surge comes amid a high-volume pullback in the stock, which has been under pressure over the past few months.
Investors are also tracking the company's planned capacity expansion, ₹3,000 crore capital expenditure programme and broader growth ambitions for FY27.
However, technical analysts remain cautious about the stock's broader trend, identifying key support and resistance levels that could determine its next move.
The stock opened at ₹508.50 apiece, which was also its intraday low, before climbing to an intraday high of ₹581.30. Since the beginning of 2026, the shares have gained more than 5%, while they have declined over 13% in the past year. The stock remains 14.6% away from its 52-week low of ₹496.25.
The stock's price band limit was revised from 10% to 20% effective 8 October.