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Last Updated : May 09, 2019 03:52 PM IST | Source: Moneycontrol.com

Buy Balkrishna Industries; target of Rs 900: Keynotes Financial Opiniery

Keynotes Financial Opiniery is bullish on Balkrishna Industries has recommended buy rating on the stock with a target price of Rs 900 in its research report dated May 08, 2019.

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Keynotes Financial Opiniery's research report on Balkrishna Industries


Headquartered in Mumbai, Balkrishna Industries ltd (BKT) is a leading manufacturer in the Off-Highway tire Market. Since its founding in 1987, BKT has successfully focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining. BKT has developed into a global player in the Off-Highway tire industry with a 6% market share and a sales volume of 850 Million US dollars corresponding to a 30% increase over the last 5 years. BKT have 4 subsidiaries in Europe and North America assisting our head office in sales and marketing activities. BKT sell their products in 130 countries worldwide through a network of national distributors. Our five state of the art production sites in Aurangabad, Bhiwadi, Chopanki, Dombivali and Bhuj employ more than 7000 people.


Outlook


On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 900/- share an upside of 20% from current levels.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on May 9, 2019 03:52 pm
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