Balkrishna Industries gains on raising Rs 500 crore via NCDs
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Balkrishna Industries is currently trading at Rs. 2494.00, up by 8.45 points or 0.34% from its previous closing of Rs. 2485.55 on the BSE.
The scrip opened at Rs. 2487.50 and has touched a high and low of Rs. 2507.35 and Rs. 2454.40 respectively. So far 85227 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2724.40 on 23-Sep-2021 and a 52 week low of Rs. 1307.05 on 02-Nov-2020.
Last one week high and low of the scrip stood at Rs. 2519.50 and Rs. 2385.00 respectively. The current market cap of the company is Rs. 48394.06 crore.
The promoters holding in the company stood at 58.30%, while Institutions and Non-Institutions held 27.98% and 13.73% respectively.
Balkrishna Industries has raised Rs 500 crore through the allotment of 5000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of a face value of Rs 10,00,000 on a private placement basis. The Finance Committee constituted by Board of Directors of the company at its meeting held October 28, 2021 has approved the allotment of the same.
Balkrishna Industries is a leading manufacturer in the Off-Highway tire market. Since its founding in 1987, BKT has successfully focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.
