Five stocks demonstrated remarkable resilience on February 27, rising as much as 19% despite a broader market decline. According to reports from Livemint, Tejas Networks Ltd led the gains with a 19% surge, followed by Redington Ltd at 17%, while Camlin Fine Sciences Ltd increased by 10%, Netweb Technologies India Ltd gained 8%, and Chennai Petroleum Corporation Ltd recorded a 6.25% rise. This contrasted sharply with benchmark indices, as the BSE Sensex plummeted 961.42 points (1.17%) to close at 81,287.19, while the Nifty 50 declined 317.90 points (1.25%) to finish at 25,178.65. The stark divergence between individual stock performance and broader market weakness highlights the selective nature of current market movements.
The market decline was primarily attributed to foreign investor selling pressure and geopolitical concerns. As reported by Livemint, Foreign Institutional Investors (FIIs) sold equities worth ₹3,465.99 crore on Thursday, while Domestic Institutional Investors (DIIs) purchased stocks valued at ₹5,031.57 crore. The selling pressure intensified significantly in February 2026, with Foreign Portfolio Investors (FPIs) selling ₹11,000 crore worth of IT stocks, bringing total FPI investments down to ₹4,48,938 crore as of February 15, 2026, from ₹5,33,953 crore at the end of January. Experts noted that stalled US–Iran nuclear discussions have heightened fears of Middle East conflict escalation, contributing to the risk-off sentiment that drove benchmark indices lower despite the strong performance in select stocks.
According to Angel One's Rajesh Bhosale, Tejas Networks has emerged as the leading performer with a 34% weekly surge and 46.3% monthly gain, though it remains 42.3% down for the year. The stock crossed above its 20WEMA for the first time since December 2024, with technical analysts identifying ₹480-500 as next resistance and ₹370 as support. Bhosale expects positive momentum to extend in the near term, supported by the technical breakout.
Redington demonstrated a classic technical reversal, gaining 11.53% weekly and 9.2% monthly, though its yearly return remains modest at 10.6%. As reported by Lakshmishree's Anshul Jain, the stock delivered a failed breakdown below rectangle support near 246, quickly reversing and reclaiming the range above 250. The reversal triggered aggressive short covering with an extraordinary volume spike of over 5,000% versus the 50-day average, with analysts targeting the rectangle top near 299.
Netweb Technologies India emerged as the top long-term performer with an impressive 146.4% annual return, while Chennai Petroleum Corporation boasted a 96.4% yearly gain. According to Angel One's analysis, Netweb Technologies is forming a higher bottom on the weekly chart with relative strength outperformance likely extending towards ₹4,400, while Chennai Petroleum is showing an inverse head and shoulder pattern with strong support around ₹940 and ₹1,050 as potential targets.
The broader IT sector faced unprecedented pressure in February 2026, with Nifty IT dropping 19.13% and touching a 21.45% low, marking the worst monthly performance since November 2023. The correction was triggered by rapid AI developments, particularly from global startups like Anthropic, with new product unveilings including Claude Cowork Agent intensifying concerns. As reported by Samco, the ₹1.33 lakh crore market cap erosion from Infosys alone reflects broader sector weakness, with the ₹41,892 crore notional loss for domestic mutual funds highlighting institutional exposure. The ₹11,000 crore FPI selling in IT stocks represents the lowest combined investment level in four years, with the sector's labour-intensive nature and 40-70% revenue from application services making it particularly vulnerable to AI-driven productivity improvements.
