Sell Balkrishna Industries, target Rs 1215: Kunal Bothra

Independent analyst Kunal Bothra has a sell call on Balkrishna Industries Ltd. with a target price of Rs 1215. The current market price of Balkrishna Industries Ltd. is Rs 1263.45. Time period given by the analyst is Intra Day when Balkrishna Industries Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 1295. Balkrishna Industries Ltd., incorporated in 1961, is a largecap company with a market cap of Rs 24424.66 crore.

Balkrishna Industries Ltd. key Products/Revenue Segments include Tyres which contributed Rs 3722.14 Crore to Sales Value (98.25 % of Total Sales), Export Incentives which contributed Rs 57.24 Crore to Sales Value (1.51 % of Total Sales), Scrap which contributed Rs 7.51 Crore to Sales Value (0.19 % of Total Sales) and Other Operating Revenue which contributed Rs 1.41 Crore to Sales Value (0.03 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 1362.39 Crore, up 10.61 % from last quarter Sales of Rs 1231.76 Crore and up 34.52 % from last year same quarter Sales of Rs 1012.77 Crore Company has reported net profit after tax of Rs 230.25 Crore in latest quarter. 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 30-06-2018, the company has a total of 193,317,190 shares outstanding.