Balkrishna Industries soars 9%, hits 52-week high on better outlook in FY21

In the past three months, the stock has rallied 46 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.

Shares of Balkrishna Industries soared 9 per cent to Rs 1,258, also its 52-week high on the BSE on Monday, after the company said its business may see better growth in financial year 2020-21 (FY21) compared to the current financial year 2019-20 (FY20).

The stock of the tyre manufacturer was trading at its highest level since September 4, 2018. In the past three months, it has rallied 46 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.

During September 2019 quarter, the company had guided for a better volume performance in H2FY20