Balkrishna looking like a strong candidate for an upmove

Balkrishna Industries Ltd. is engaged in the business of manufacturing and selling Off-Highway Tyres (OHT) in specialist segments such as Agricultural, Industrial and construction, Earthmovers and port, Mining, Forestry, Lawn and garden, and All-Terrain Vehicles (ATV) Tires. Balkrishna Industries Ltd CMP is 2568.55.

The Negative aspects of the company are High Valuation (P.E. = 47.4) and Declining annual net profit. The positive aspects of the company are Low debt, zero promoter pledge, FIIs increasing stake, and MFs increasing stake.

Entry can be taken after closing above 2579. Targets in the stock will be 2627 and 2675. The long-term target in the stock will be 2740. Stop loss in the stock should be maintained at Closing below 2465.

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