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Balkrishna Industries to go ahead with Carbon Black project

By DSIJ Team | 7/31/2017 12:46 PM Monday

The Board of Directors of Balkrishna Industries have given their nod for setting up of a Carbon Black project at its Bhuj plant with an initial annual capacity of 60,000 MT at an estimated capital outlay of Rs 150 crore.
 
The company’s board has also declared an interim dividend of Rs 2.50 per equity share on face value of Rs 2 per share for FY 2017-18.
 
Meanwhile, the stock gained 1.20% at Rs 1,631.00 per share on the BSE. The stock on the NSE attracted a traded volume of 47,283 shares and a traded value of Rs 768.76 lakh.
 
The company has a return on equity of 24.21% for three years. The stock has given 123% return on a yearly basis.
 
Balkrishna Industries is engaged in offering pneumatic tyres. The company offers tyres, tubes and tyre flaps. It focuses on manufacture of a range of off-highway tyres (OHT). These tyres are mainly meant for agricultural, industrial and construction, earthmoving and port, mining, forestry, and lawn and garden applications.

 

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Index trend and stocks in action July 22, 2019

Karan DSIJ / Article rating: 5.0

We believe the next major support area for the Nifty is in the zone of 11,300-11,320. On the upside, any pullback rally towards 11,550-11,570 is likely to be resisted and this area is the likely hurdle going forward. Stocks in news: BHEL, CIPLA, Dr Reddy’s Laboratories, CG Power and Industrial Solutions, Strides Pharma Science, IOL Chemicals and Pharmaceuticals, Reliance Industries, McNally Bharat Engineering.

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