Balkrishna Industries gains on getting nod to raise Rs 1,000 crore via long-term finance
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Balkrishna Industries is currently trading at Rs. 2664.30, up by 9.70 points or 0.37% from its previous closing of Rs. 2654.60 on the BSE.
The scrip opened at Rs. 2666.25 and has touched a high and low of Rs. 2699.00 and Rs. 2644.85 respectively. So far 5658 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. 2724.40 and Rs. 2449.00 respectively. The current market cap of the company is Rs. 51703.65 crore.
The promoters holding in the company stood at 58.30%, while Institutions and Non-Institutions held 29.27% and 12.44% respectively.
Balkrishna Industries’ board has decided to raise funds up to Rs 1,000 crore through broader means of long-term finance. The long-term finance can be in the form of foreign currency bonds, non-convertible debentures (NCD), external commercial borrowings and term loans in various currencies. The company’s board at a meeting held on September 25, 2021 has decided for 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.
