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Buy Balkrishna Industries, price target Rs 980: CK Narayan

The analyst suggested a stop loss at Rs 950.|

Updated: Dec 27, 2019, 11.57 AM IST

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CK Narayan of Chart Advise has a buy call on Balkrishna Industries Ltd. with a target price of Rs 980. The current price of Balkrishna Industries Ltd. is Rs 973.5. CK Narayan recommended to keep a stop loss at Rs 950.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 18581.65 Crore) operating in Tyres sector.

Balkrishna Industries Ltd. key Products/Revenue Segments include Tyres & Tubes which contributed Rs 5068.01 Crore to Sales Value (96.63 % of Total Sales), Export Incentives which contributed Rs 160.27 Crore to Sales Value (3.05 % of Total Sales), Scrap which contributed Rs 13.60 Crore to Sales Value (0.25 % of Total Sales) and Other Operating Revenue which contributed Rs 2.62 Crore to Sales Value (0.04 % of Total Sales) for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 1084.28 Crore, down 9.56 % from last quarter Sales of Rs 1198.93 Crore and down 17.32 % from last year same quarter Sales of Rs 1311.41 Crore. Company has reported net profit after tax of Rs 294.31 Crore in latest quarter.


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Disclaimer: This recommendation is analyst’s own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

Source: Economic Times