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Buy Balkrishna Industries: Target Of Rs 1800: Sharekhan

Sharekhan is bullish on Balkrishna Industries recommended buy rating on the stock with a target price of Rs 1800 in its research report dated November 06, 2020.

Nov 11, 2020 / 11:30 AM IST
 
 
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Sharekhan's research repor on Balkrishna Industries


Q2 results were ahead of estimates across parameters; BKT posted best ever quarterly volumes; OPM rose 540 bps yoy to 32.8%. BKT is witnessing strong demand traction particularly agri segment and has raised FY21 volumes guidance to marginal growth from flat expected earlier; market share gains to continue. Margin to sustain at higher levels driven by operating leverage, better product mix and favourable Euro/INR realisation; expect margins to be at higher end of historical average of 28-30%.


Outlook


We retain Buy rating on the stock of Balkrishna Industries Ltd (BKT) with revised PT of Rs 1,800.


For all recommendations report, click here


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Broker Research
first published: Nov 11, 2020 11:30 am

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