Profit booking punctures rally in Balkrishna Industries

Balkrishna Industries lost 2.67% to Rs 1,654.65 at 11:49 IST on BSE on profit booking after gaining 10.35% in the preceding five trading sessions to settle at Rs 1,700 on 23 June 2017 from its close of Rs 1,540.50 on 16 June 2017.

Meanwhile, the S&P BSE Sensex was down 114.96 points, or 0.37% to 31,023.25

On the BSE, 3,965 shares were traded on the counter so far as against the average daily volumes of 57,560 shares in the past one quarter. The stock hit a high of Rs 1,719 and a low of Rs 1,651.95 so far during the day. The stock had hit a record high of Rs 1,729 on 23 June 2017. The stock had hit a 52-week low of Rs 650 on 24 June 2016.

The stock had outperformed the market over the past one month till 23 June 2017, rising 13.68% compared with 2.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.96% as against Sensex's 6.16% gains. The scrip had also outperformed the market in past one year, surging 155.04% as against Sensex's 15.32% gains.

The large-cap company has equity capital of Rs 19.33 crore. Face value per share is Rs 2.

Balkrishna Industries' net profit rose 1.79% to Rs 137.47 crore on 15.23% increase in net sales to Rs 1002.94 crore in Q4 March 2017 over Q4 March 2016.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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