Balkrishna Industries hits 52-week high; stock rallies 49% in two months

The company achieved the highest ever quarterly sales volumes in Q4FY20, in spite of lockdown during the last 7 days of March 2020.

Shares of Balkrishna Industries (BKT) hit a 52-week high of Rs 1,316, up 3 per cent on the BSE on Friday, on the expectation of strong earnings going forward.

The stock surpassed its previous high of Rs 1,298 touched on February 20, 2020. It was trading higher for the sixth straight day. In the past two months, the stock of BKT has rallied 49 per cent, as compared to a 13.4 per cent rise in the S&P BSE Sensex.

BKT is a leading tyre manufacturer domestically in the off-highway tyre (OHT) segment which is primarily meant for exports. BKT tyres find application