Balkrishna Industries Ltd. News and Updates

Name: Latest research reports of Balkrishna Industries Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Balkrishna Industries Ltd.
Rating: 4
Author: ICICI Securities Limited

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Balkrishna Industries Ltd.

28 Jun 2023

2731.90

1.20%

Chart Check: Breakout from descending triangle pattern makes this stock an attractive buy; new record highs possible

Economic Times

Experts suggest that the stock price of Balkrishna Industries, a company in the tyre and rubber product industry, has broken out from a descending triangle pattern, indicating a potential increase towards Rs 3,000 levels in the medium term. The stock has been consolidating recently but has rallied by about 20% in the last three months. The stock is trading above important moving averages, and technical indicators such as the Relative Strength Index (RSI) and MACD are showing bullish signals. Experts recommend purchasing the stock with targets of Rs 3,220 and Rs 4,125 in the next four to six months.

Balkrishna Industries Ltd. is trading above its 100 day SMA of 2659.8

Balkrishna Industries Ltd.

20 Jun 2023

2731.90

1.20%

A quarter of consolidation is still left

Accumulate: Balkrishna Industries Ltd.

Target

ICICI Securities Limited

Post stocking up of inventory at distributor level in end markets between March and July CY22, India OHT exports have consolidated since August, facilitating de-stocking amidst steady retail demand.

Balkrishna Industries Ltd. is trading above its 100 day SMA of 2659.8

Balkrishna Industries Ltd.

31 May 2023

2731.90

1.20%

Neutral Balkrishna Industries; target of Rs 2100: Motilal Oswal

Moneycontrol

Motilal Oswal recommended Neutral rating on Balkrishna Industries with a target price of Rs 2100 in its research report dated May 30, 2023.

Balkrishna Industries Ltd. is trading above its 100 day SMA of 2659.8

Reduce Balkrishna Industries; target of Rs 2083: HDFC Securities

Moneycontrol | 31 May 2023

Balkrishna Industries Ltd.

31 May 2023

2731.90

1.20%

Volumes and margins improve QoQ, further improvement expected in FY24E

Accumulate: Balkrishna Industries Ltd.

Recommendation Target

KRChoksey

For Q4FY23, BIL reported revenue of INR 23,170 mn (-2.4% YoY/ +7.0% QoQ). Sales volume was 72,676 MT, which was a decline of 5.8% YoY but an improvement of 9.3% QoQ. The Average Selling Price (ASP) per MT was higher by 3.6% YoY but contracted by 2.1% QoQ.

Balkrishna Industries Ltd. is trading below its 150 day SMA of 2733.7

Balkrishna Industries Ltd.

30 May 2023

2731.90

1.20%

Balkrishna Industries Limited

Neutral: Balkrishna Industries Ltd.

Recommendation Target

Keynote Capitals Ltd

Quarterly Update Q4FY23

Number of FII/FPI investors increased from 542 to 562 in Mar 2025 qtr.

Balkrishna Industries Ltd.

30 May 2023

2731.90

1.20%

Operationally in line; recovery to further delay in EU

Neutral: Balkrishna Industries Ltd.

Target

Motilal Oswal

Balkrishna Industries Ltd. is trading below its 150 day SMA of 2733.7

Balkrishna Industries Ltd.

30 May 2023

2731.90

1.20%

Beat in earnings amid gradual overall recovery

Accumulate: Balkrishna Industries Ltd.

Recommendation Target

ICICI Securities Limited

Balkrishna Industries’ (BIL) Q4FY23 EBITDA margin at 20.3% was in line with our estimate and up 420bps QoQ, driven by gradual decline in the cost of consumed raw material basket (RMB) and relatively lower-priced freight contracts. BIL is aiming at 200-300bps EBITDAM improvement in FY24 over current levels –on the back of lower RMB cost, better hedge rate and further normalisation of logistics cost.

Number of FII/FPI investors increased from 542 to 562 in Mar 2025 qtr.

Balkrishna Industries Ltd.

29 May 2023

2731.90

1.20%

Balkrishna Industries Results Earnings Call for Q4FY23

Conference Call with Balkrishna Industries Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.

audio

Balkrishna Industries Ltd.

29 May 2023

2731.90

1.20%

Balakrishna Industries trades down 9% as inventory challenges weigh on Q4 results

Moneycontrol

In its investor presentation, Balkrishna Industries said although historically the fourth quarter has been the best performing, there were still challenges in the channel inventory situation.