Balkrishna Industries recovers 8% from day's low, up 3% in a weak market

The company announced commencement of commercial production from its brownfield expansion & debottlenecking project at the Bhuj plant.

Shares of Balkrishna Industries (BIL) moved 3 per cent higher to Rs 1,815, recovering 8 per cent from the day's low of Rs 1,682 in Monday’s intra-day trade on the BSE.

The tyre maker in a regulatory filing on Friday after market hours informed exchange about commencement of commercial production from its brownfield expansion & debottlenecking project at the Bhuj plant. The board of directors at its meeting held on February 8, 2021 had approved the aforesaid project.

“The company has successfully commenced commercial production of the brownfield expansion and debottlenecking project at Bhuj plant ahead of schedule.