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    Buy Balkrishna Industries, target price Rs 1626: Nomura

    Synopsis

    Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 25399.95 Crore) operating in Tyres sector.

    ​Balkrishna IndustriesiStock
    Promoters held 58.30 per cent stake in the company as of March 31, 2020, while FIIs held 11.93 per cent, DIIs 17. 8 per cent and public and others 11.97 per cent.
    Nomura has given buy rating Balkrishna Industries with a target price of Rs 1626. The share price moved down by 2.28 per cent from its previous close of Rs 1348.55. The stock’s last traded price is Rs 1317.85.

    Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 25399.95 Crore) operating in Tyres sector.

    Balkrishna Industries Ltd. key Products/Revenue Segments include Tyres & Tubes which contributed Rs 4674.82 Crore to Sales Value (97.74 % of Total Sales), Export Incentives which contributed Rs 94.07 Crore to Sales Value (1.96 % of Total Sales), Scrap which contributed Rs 12.76 Crore to Sales Value (0.26 % of Total Sales) and Other Operating Revenue which contributed Rs .84 Crore to Sales Value (0.01 % of Total Sales)for the year ending 31-Mar-2020.

    Financials
    For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 942.61 Crore, down 31.31 % from last quarter Sales of Rs 1372.27 Crore and down 21.38 % from last year same quarter Sales of Rs 1198.93 Crore. The Company reported net profit after tax of Rs 131.56 Crore in latest quarter.

    Promoter/FII Holdings
    Promoters held 58.30 per cent stake in the company as of March 31, 2020, while FIIs held 11.93 per cent, DIIs 17. 8 per cent and public and others 11.97 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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