Balkrishna Industries, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 37538.33 Crore) operating in Tyres sector.

In an interview with PTI on Thursday, Ramdev assured his investors and public shareholders that there would be no impact on Patanjali Foods operation and financial performance and its growth trajectory will remain intact.

In an interview with PTI, Ramdev assured his investors and public shareholders that there would be no impact of Patanjali Foods Ltd's (PFL) operation and financial performance and its growth trajectory will remain intact.

After this equity shares were allotted pursuant to the implementation of resolution plan as approved by NCLT, the aggregate shareholding of the promoter and promoter group in PFL increased to 98.87 per cent of the total issued, paid up and subscribed equity share capital of the company.

In an exchange filing on Wednesday, the company said it had received emails dated March 14 from the BSE and NSE regarding freezing shares of 21 promoter entities. Patanjali Ayurved, the single-largest promoter shareholder with 39.4% stake, and Acharya Balkrishna are among the promoters whose holdings have been frozen.

Despite the sharp fall, the daily momentum indicator still has a positive crossover, suggesting that this dip should be bought into. Until Nifty breaches, this range decisively on either side the range bound action is likely to continue, and we might see sector rotation and stock specific action,"

Breakdown from a “Bearish Flag and Pole” pattern, rise in OI reaffirms bearish momentum.

Sharekhan recommended hold rating on Balkrishna Industries with a target price of Rs 2163 in its research report dated February 13, 2023.

With a global recession looming, volumes in its key revenue vertical are under pressure despite pricing being at a discount to the competition.

#BALKRISIND Chart for today Feb 10, 2023Only for option trading Down side Target 2258/2236Above 2307 Upside target 2346

“The trigger for bulls to break jail would be pivoting in the US, pivoting of the interest rates which I believe at least a couple of more 25 bps hikes are there and thereafter it is going to be a bit of a pause. So when the Fed starts cutting interest rates in the US, that is when I believe bulls are going to start coming out of wherever they are hiding for the moment.”

The company's consolidated net profit tanked 68.02 percent to Rs 108.38 crore in the December quarter from Rs 338.95 crore in the year-ago period

“Only 2-3% of LIC policyholders pay premiums of more than Rs 5 lakh annually. They work in a much smaller premium zone. A large number of people who are paying for LIC policies are not doing them for tax benefits. Even if the new tax regime were to come, for a lot of these people, it is just one way to save. So, the tax measure is not going to impact LIC.”

The company disappointed investors on all three fronts as sales, EBIDTA margin as well as bottomline declined on year in Oct-Dec

A reasonable negative candle was formed on the daily chart, which indicates a range movement with weak bias for the market.

Its EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at Rs 314.26 crore, sliding 44.84% from Rs 569.69 crore in December 2021. The company recorded net expenses of Rs 2059.06 crore in Q3FY23 compared to Rs 1708.78 crore in the year-ago quarter. The EPS of Balkrishna Industries reached Rs 5.61 in Q3FY23 as compared to Rs 17.53 in the same quarter last year

“The public sector banks have declared what losses they have to the Adani group, but nobody is talking about loans against shares or any other kind of leverage.We should also break into the NBFCs and other companies. It is a wait and watch all over the world, and not just in India. Who knows where we are going to go next?”

The consensus recommendation from 23 analysts for the stock is hold. Out of the 23 analysts covering the stock, 11 have strong buy and buy ratings, six have strong sell and sell ratings, and six have hold ratings.

Balkrishna Industries, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 44622.44 Crore) operating in Tyres sector.

"The sharp increase in capital spending in a year of global uncertainty, a credible fiscal consolidation, no change in the capital gains tax regime, and lower-than-expected market borrowings augur well for stocks," Morgan Stanley's Ridham Desai said. Following the Budget, he and his team are overweight on three sectors - financials, discretionary consumption and industrials.

Increase in tax exemption limit with consequent more disposable income for Indian taxpayers in Union Budget 2023-24 is a positive development for domestic automobile space and shall spur growth for the domestic passenger vehicle industry. Positive for Maruti Suzuki, M&M, and Tata Motors in our coverage universe. It is also positive for the premium motorcycle segment with Eicher Motors as key beneficiary with the popular Royal Enfield franchise," said brokerage firm ICICI Direct.

Nifty Infrastructure climbed six-tenth of a percent to 5,093 level at the time of writing this article, with Indian Hotels being the biggest gainer with 6 percent rally.

Balkrishna Industries, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 42879.69 Crore) operating in Tyres sector.

The Relative Strength Index (RSI) is at 70.9. RSI above 70 is considered overbought. This implies that the stock may show a pullback. MACD is above its center and signal line, this is a bullish indicator.

From the past 4 weeks, the index has been trading in the range of 17770 to 18200. The underlying tone of the market is sideways to negative as the index had formed a bearish engulfing pattern on the monthly chart which is a bearish reversal sign. On the lower side, the index has strong support at 17800 level as it is neckline of Inverted head and shoulder pattern and 100 EMA support on daily chart.

“Momentum indicators on the technical front show a lot of strength in this particular stock. I believe it has a potential to reach up to Rs 2,380-2,400 level. So, one can take a long position in Balkrishna Industries at the current market price with the stop loss at Rs 2,190 levels on a downside for an immediate target of 2300 to 2320.”

Options data suggests a shift in a trading range in between 17600 to 18300 zones while an immediate trading range in between 17700 to 18200 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.

Stock trading in rising channel pattern with a higherhigh & higher low formation indicates momentum.

Making higher highs from the last three months andcame out of its range on weekly frame.

On the options front, the weekly maximum Call OI is placed at 18000 and then 18100 strikes while the weekly maximum Put OI is placed at 18000, and then towards 17,600 strikes. Meaningful Call writing is seen at 18000 then 18100 strikes while minor Put writing at 17800 then 17600 strikes.

​​A decisive move by Nifty below 17,750 is likely to prompt traders to add fresh bearish bets, said technical analysts. Balkrishna Industries, Apollo Tyre, HDFC Life, ICICI General Insurance and, SBI Life, M&M, Cummins India, ABB are some of the stocks suggested by analysts for short-term trading.

UNO Minda, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 30019.64 Crore) operating in Auto Ancillaries sector.

Rise in interest rates, recession fears, the Russia-Ukraine war as well as rising concerns over Covid cases in China will keep the markets on edge in 2023, suggest experts. “This decline in forex reserves is to defend the rupee amid pressures caused majorly by global developments. On the technical front, 17950 and 18300 are immediate support and resistance in Nifty 50,” Mohit Nigam, Fund Manager & Head - PMS, Hem Securities, said.

Balkrishna Industries, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 41234.56 Crore) operating in Tyres sector.

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"A few things have clearly happened largely on the positive side, thankfully for the auto sector. One, of course, the global crude price has seen a sharp correction. The second factor is that in the initial months of the year a lot of metal prices corrected. In the last two-three months, metal prices have been flat but still on a year-to-date basis, they are down 15%-20% except for nickel. So, as most metal prices are down it is a positive for the automobile sector," said Kunj Bansal of Investment-illiteracy.com in an interaction with ET NOW.