Balkrishna Industries Ltd. News and Updates

Name: Latest research reports of Balkrishna Industries Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: Balkrishna Industries Ltd.
Rating: 5
Author: ICICI Direct

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Balkrishna Industries Ltd.

29 May 2023

2745.50

1.71%

Balkrishna Industries

Buy: Balkrishna Industries Ltd.

Recommendation Target

ICICI Direct

Balkrishna Industrie.. has an average target of 2899.50 from 6 brokers.

Balkrishna Industries Ltd.

23 May 2023

2745.50

1.71%

Balkrishna Industries on a breakout, stock shows fresh bullish overtone

Moneycontrol

Following the stock's decline to a low of Rs 1,908 levels in March, the price experienced a notable recovery, forming higher bottoms

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

Balkrishna Industries Ltd.

29 Apr 2023

2745.50

1.71%

Another quarter of destocking still left

Buy: Balkrishna Industries Ltd.

Target

ICICI Securities Limited

Indian OHT exports declined for the third quarter in a row in Q4FY23, from the highs of Q1FY23, as with the easing of container supplies, distributors in target markets started cutting down inventory from elevated ~120 days to targeted levels of ~60 days.

Balkrishna Industries Ltd. is trading below its 200 day SMA of 2812.3

Balkrishna Industries Ltd.

27 Mar 2023

2745.50

1.71%

Weakness to linger for a couple of more quarters

Buy: Balkrishna Industries Ltd.

ICICI Securities Limited

Industry OHT exports remained subdued in Jan’23, closer to Oct’22 lows, post spiking up in the seasonally strong Dec’23. Overall OHT export revenues were down 9% YoY in Jan’23 (up 6% FY23-TD) with the agri tyre segment down 12% YoY vs OTR down 3% YoY.

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

Balkrishna Industries Ltd.

15 Mar 2023

2745.50

1.71%

BKT Tires signs up as Official Tire Partner with seven IPL teams

Business Line

This partnership to create a positive impact on BKT Tires' brand, generating more interest and value

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

Balkrishna Industries Ltd.

10 Mar 2023

2745.50

1.71%

Hold Balkrishna Industries; target of Rs 2163: Sharekhan

Moneycontrol

Sharekhan recommended hold rating on Balkrishna Industries with a target price of Rs 2163 in its research report dated February 13, 2023.

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

Balkrishna Industries Ltd.

08 Mar 2023

2745.50

1.71%

India’s OHT exports on gradual recovery path

Buy: Balkrishna Industries Ltd.

ICICI Securities Limited

Post stocking up of off-highway tyre (OHT) inventory at distributor level in end- markets between Mar-Jul’22, India’s OHT exports from Aug’22 were muted as a result of destocking amid improving container availability. OHT exports from the country bottomed out in Oct’22 at ~US$130mn vs Mar-Jul’22 average of ~US$170mn and recovered to a 5-month high of US$152mn in Dec’22.

Balkrishna Industries Ltd. is trading above its 150 day SMA of 2736.3

Balkrishna Industries Ltd.

14 Feb 2023

2745.50

1.71%

Broker's Call: Balkrishna Ind (Hold)

Business Line

Sharekhan

Balkrishna Industries Ltd. is trading above its 150 day SMA of 2736.3

Balkrishna Industries Ltd.

14 Feb 2023

2745.50

1.71%

Balkrishna Industries share falls 3%; Nomura has a neutral call, target Rs 2,015

Moneycontrol

The company's consolidated net profit tanked 68.02 percent to Rs 108.38 crore in the December quarter from Rs 338.95 crore in the year-ago period

Balkrishna Industries Ltd. is trading below its 200 day SMA of 2812.3

Balkrishna Industries Ltd.

14 Feb 2023

2745.50

1.71%

Volumes continue to be impacted due to high channel inventory

Buy: Balkrishna Industries Ltd.

Recommendation

KRChoksey

For Q3FY23, BIL reported revenue of INR 21,656 mn (+5.9% YoY/ -18.5% QoQ). For 9MFY23, revenue was INR 74,425 mn (+25.7% YoY). Sales volumes for Q3FY23 declined by 5.5% YoY/ 15.7% QoQ to 66,480 units. Volumes were impacted due to channel inventory correction in end markets. This has led to lower sales for BIL even as the end user demand has remained intact.