Stock of Interest

Posted On: September 21, 2023

Stock Report: BALKRISIND(NSE) 20 Sep 2023

Balkrishna Industries Ltd is a manufacturer of Off-Highway tires. The company serves original equipment manufacturers and customers in the replacement market. Tire products are utilized in agricultural and forestry, industrial markets, earthmoving, construction, port, mining, ATV, and gardening applications. Based out of India, the majority of Balkrishna’s revenue is derived from international markets. Marketing and sales of tire products are conducted through wholly owned subsidiaries located in both Europe and North America. 

#xCalData predicts that # BALKRISIND will continue its bullish phase over the next five days and trend within the range of 2498 to 2654. 

In comparison to the previous month, the price of the stock has experienced an increase of 7.16% indicating a bullish.

The Stock has doubled thrice since 28 Feb 2015 and took an average of 2.2 years to double.

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 3 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. Only some of the technical indicators namely Relative Strength indicate Bearish view. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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