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Published on 6/11/2018 11:24:08 AM | Source: Dion Global Solutions Ltd

Balkrishna Industries tanks 10% post Q2

Shares of Balkrishna Industries tumbled nearly 10 per cent on the Bombay Stock Exchange after the company's standalone EBITDA (earnings before interest, tax, depreciation and amortization) margin declined 430 bps y-o-y at 27.7 per cent in September quarter. Following Q2 earnings number, shares of the company declined as much as 9.90 per cent and touched an intra-day low of Rs 964.00 apiece on the Bombay Stock Exchange.

In a similar trend, stocks of the firm were trading at Rs 971.05 apiece, down 9.15 per cent, on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 35,048.50, up 97.58 points, or 0.28 per cent, from the previous close on the BSE at 11:00 hours.