ICICI Direct has buy call on with a target price of Rs 1722. The current market price of Balkrishna Industries Ltd. is Rs 1683.8.
Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 32742.13 Crore) operating in Tyres sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1563.84 Crore, down -2.14 % from last quarter Total Income of Rs 1598.07 Crore and up 31.81 % from last year same quarter Total Income of Rs 1186.41 Crore. Company reported net profit after tax of Rs 325.07 Crore in latest quarter.
Investment Rationale
Price resumes uptrend after consolidating above 50 day EMA
Promoter/FII Holdings
Promoters held 58.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 15.5 per cent, DIIs 15 per cent and public and others 11.2 per cent.
