Timken India to continue its upward move: Kotak

Timken India will continue its upward movement over the near-term, says Kamlesh Kotak, Vice President - Research Asian Markets Securities Private Limited.

Kotak told CNBC-TV18, "Timken India Limited has posted stellar results for the March quarter and that was reflected in the recent run up in stock price." He further added, "We expect the company to do well, led by the strong demand for bearings as well as Company's strong balance sheet with zero debt. On top of that 80% promoter holding by the US based Timken Company makes a case for delisting of this company. We see the stock to be continuing its upward march over the near-term."