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Buy Balkrishna Industries, price target Rs 980: Shrikant Chouhan

The analyst suggested a stoploss at Rs 924

ETMarkets.com|
Updated: Dec 06, 2019, 08.42 AM IST
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Shrikant Chouhan of Kotak Securities Limited has a buy call on Balkrishna Industries Ltd. with a target price of Rs 980. The current price of Balkrishna Industries Ltd. is Rs 944.0. Time period given by the analyst is Intra Day when Balkrishna Industries Ltd. price can reach the defined target. Shrikant Chouhan recommended to keep a stoploss at Rs 924.

Balkrishna Industries Ltd., incorporated in 1961, has a market cap of Rs 18233.68 crore. 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.

The company’s top management includes Mr.Arvind Poddar, Mr.Pannkaj Ghadiali, Mr.Rajendra Hingwala, Mr.Rajiv Poddar, Mr.Sandeep Junnarkar, Mr.Vipul Shah, Mrs.Vijaylaxmi Poddar, Ms.Shruti Shah. Company has N G Thakrar & Co as its auditors. As on 30-09-2019, the company has a total of 193,317,190 shares outstanding.

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