Dipan Mehta positive on Balkrishna Industries

Dipan Mehta, Member of BSE & NSE is positive on Balkrishna Industries, the second largest tyre company in terms of market capitalisation.

Dipan Mehta, Member of BSE & NSE told CNBC-TV18, " Balkrishna Industries is the second largest tyre company in terms of market capitalisation. It is complete export oriented business model and this time around the results were also fantastic and a major expansion plan is going on-stream. So I am positive on tyre companies and Balkrishna in particular."

"The other tyre companies are seeing a cyclical upmove, the business prospects have improved, raw material prices are on the lower side and pent up demand has picked up. Few select tyre companies are also tapping the export market and valuations always were cheap for the tyre companies, so we are seeing the effect of the price earning (PE) getting re-rated and the earnings also moving up," Mehta added.

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