Buy Balkrishna Industries, target Rs 1,865.50: ICICI Direct

ICICI Direct has a buy call on Balkrishna Industries with a target price of Rs 1865.50.

The current market price of Balkrishna Industries is Rs 1838.95.

Time period given by the analyst is intraday when Balkrishna Industries price can reach defined target.

ICICI Direct recommended to keep a stop loss at Rs 1,811.10.

Balkrishna Industries, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 16,910.42 Crore) operating in Tyres sector.

Balkrishna Industries key Products/Revenue Segments include Tyres which contributed Rs 3,722.14 Crore to Sales Value (98.25 per cent of Total Sales), Export Incentives which contributed Rs 57.24 Crore to Sales Value (1.51 per cent of Total Sales), Scrap which contributed Rs 7.51 Crore to Sales Value (0.19 per cent of Total Sales) and Other Operating Revenue which contributed Rs 1.41 Crore to Sales Value (0.03 per cent of Total Sales)for the year ending 31-Mar-2017.

The company’s top management includes Mr.Arvind Poddar, Mr.Ashok Saraf, Mr.Dharaprasad Poddar, Mr.Khurshed Doongaji, Mr.Laxmidas Merchant, Mr.Rajiv Poddar, Mr.Sachin Nath Chaturvedi, Mr.Sanjay Asher, Mr.Vipul Shah, Mrs.Vijaylaxmi Poddar.

Company has N G Thakrar & Co as its auditors.

As on 30-09-2017, the company has a total of 96,658,595 shares outstanding.