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Balkrishna Industries share price: Down 10% in 2 days, this tyre stock may remain under pressue amid capex plans


Down 10% in 2 days, this tyre stock may remain under pressure amid capex plans
Investors are however skittish about the company’s decision to increase the capacity of carbon black a key ingredient for tyre making.
Synopsis
The tyre capacity expansion, which will be completed by the second half of FY23 is aimed at catering higher demand and has an estimated payback period of four years at the profit before tax level.
ET Intelligence Group: Balkrishna Industries’ decision to increase the extent of carbon black supply to third parties by expanding the existing plant capacity has not gone well with investors given the lower margin profile of the activity compared with the company’s overall operating margin. The stock of the off-highway tyre maker has lost 10% in the two trading sessions after the announcement on Monday evening. Its premium valuation over peers ....

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Balkrishna Ind's Rs 1,900 cr capex plan sparks profit taking; stock down 8%


Shares of Balkrishna Industries slipped 8 per cent to Rs 1,700 on the BSE in Tuesday s intra-day trade as investors booked profit after the company announced capital expenditure (capex) plan of up to Rs 1,900 crore, which will be funded by internal accruals and debt, if required.
The stock of auto tyres and rubber products has corrected 10 per cent from its record high level of Rs 1,885 touched in intra-day trade today. At 10:45 am, it was trading 7 per cent lower at Rs 1,719 as compared to a 0.41 per cent risen in the S&P BSE Sensex.
Looking at the overall increase in demand, the board at its meeting held on Tuesday, February 8, 2021, has approved a capex plan of Rs 1,900 crore, which include Brownfield project at Bhuj to increase tire capacity, increase carbon black capacity including advance carbon black and power plant at Bhuj and modernization, automation and technology upgradation capex at existing facilities. ....

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