InvestorQ : Why did the stock of Balkrishna Industries rally so sharply on 17 May?
swati Bakhda made post

Why did the stock of Balkrishna Industries rally so sharply on 17 May?

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Sam Eswaran answered.
4 months ago
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Balkrishna Industries rallied by 9% to a life-time high of Rs.2,062 on Monday the 17th of May. This was largely on the back of solid results for the Mar-21 quarter. In fact, for the Mar-21 quarter, the company had reported 29% increase in standalone revenues at Rs.1,746 crore. Balkrishna saw healthy growth in OEM and replacement demand.

EBITDA margins had expanded by 254 basis points to 31.9% on in the Mar-21 quarter. The net profits were up by a majestic 45% at Rs.372 crore. The stock actually rallied after BKT guided sales volumes of 265,000 MT. Balkrishna is also integrated backward after setting up a carbon black plant for better control over input prices.

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