The Balkrishna Industries stock slipped about 12 per cent, its worst single day fall in four years, owing to a muted September quarter performance and downward revision of the volume guidance by the management. Drought conditions in Europe and the currency volatility due to the ongoing trade war has led the company to give a revised volume guidance of 0.21-0.22 million tonnes (mt) for FY19.
While this is 15 per cent higher than FY18, it is over a third lower than the 0.25-0.30 mt the company had guided for at the end of the June quarter. Ironically, the company had