Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

Buy Balkrishna Industries; target of Rs 2293: Hem Securities

Hem Securities is bullish on Balkrishna Industries has recommended buy rating on the stock with a target price of Rs 2293 in its research report dated September 03, 2022.

September 05, 2022 / 11:34 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Hem Securities report on Balkrishna Industries

Balkrishna Industries Ltd Q1FY23 consolidated revenues came in at ₹2619 Cr, up 45.3% YoY and up 10.3% QoQ. EBITDA for Q1FY23 stood at ₹444 Cr, down 13.1% YoY and down 11.1% QoQ. EBITDA margins for Q1FY23 came at 16.95%, -1141 bps YoY and -424 bps QoQ. PAT for Q1FY23 stood at ₹307 Cr, down 7.1% YoY and down 18.1% QoQ.

Outlook

We give a “BUY” rating on the stock and value the stock at 22.5x FY24E earnings to arrive at the target of ₹2293.

More Info

At 11:23 hrs Balkrishna Industries was quoting at Rs 1,991.15, down Rs 1.25, or 0.06 percent.

It has touched an intraday high of Rs 1,997.05 and an intraday low of Rs 1,982.90.

It was trading with volumes of 5,869 shares, compared to its thirty day average of 24,190 shares, a decrease of -75.74 percent.

In the previous trading session, the share closed down 1.76 percent or Rs 35.60 at Rs 1,992.40.

The share touched its 52-week high Rs 2,724.40 and 52-week low Rs 1,681.95 on 23 September, 2021 and 07 March, 2022, respectively.

Currently, it is trading 26.91 percent below its 52-week high and 18.38 percent above its 52-week low.

Market capitalisation stands at Rs 38,492.35 crore.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

BALKRISHNA INDUSTRIES - 050922 - hem

Broker Research
first published: Sep 5, 2022 11:34 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347