Balkrishna Industries

Balkrishna's current valuation at 14 times FY27 enterprise value to operating profit is attractive given a strong return on invested capital of 25 per cent in FY26

Despite multiple headwinds, brokerages believe the company is well-positioned to benefit from a revival in demand going forward

Technical charts suggests that Ramkrishna Forgings, Balkrishna Industries and KIMS can potentially rally up to 16 per cent from present levels; check key support, resistance levels here

Balkrishna Industries, a leading off-highway tyre manufacturer, announced a 47.6 per cent increase in net profit for the first quarter ending June 30, 2024

Exports and market share gains have helped the company to pull ahead

So far in the current calendar year 2023, MRF has outperformed the market by gaining 14% on improved financial performance. In comparison, the S&P BSE Sensex gained 3% during the period

Tyre-maker's challenges include excess inventory, muted demand in agriculture sector

Its revenue from operations increased marginally by around 6 per cent to Rs 2,165.57 crore in Q3

Company's near term will be tough, but brokerages believe it will continue to gain market share

The management commentary suggests Q2FY23 to be weak (QoQ decline) due to sluggish demand prospects in Europe and US.

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

According to the technical analyst from Anand Rathi, Balkrishna Industries is showing immense strength on the 2-hour chart, while the weekly chart of HDFC Life indicates a sharp up move.

The company announced commencement of commercial production from its brownfield expansion & debottlenecking project at the Bhuj plant.

Balkrishna Industries: Volume constraints and valuations are the other concerns

According to the technical analyst from Anand Rathi, LT is in a secular uptrend and currently hovering above all its major exponential moving averages on daily time frame indicating inherent strength

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021

While growth momentum has been strong, what has helped the company perform better than peers in the June quarter is its reliance on overseas markets

On the daily chart, the Nifty MidCap index in reaching the '100% Price Extension' of the previous up move

The management said the demand continues to be robust in Agriculture segment across Geographies

Off-highway tyre manufacturer Balkrishna Industries (BKT Tires) on Wednesday said it is sponsoring seven teams in the upcoming season of the Indian Premier League (IPL).