Balkrishna Industries share price: Hold Balkrishna Industries, target price Rs 1770: ICICI Direct

ICICI Direct has hold call on Balkrishna Industries with a target price of Rs 1770. The current market price of Balkrishna Industries Ltd. is Rs 1599.45.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 30722.93 Crore) operating in Tyres sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1577.90 Crore, up 67.40 % from last quarter Sales of Rs 942.61 Crore and up 45.53 % from last year same quarter Sales of Rs 1084.28 Crore Company reported net profit after tax of Rs 340.94 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 58.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 11.5 per cent, DIIs 19 per cent and public and other 11.2 per cent.

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