Balkrishna Industries shares rise 3% as Nomura upgrades to buy, sees 22% upside

Balkrishna Industries’ shares rose 3.4% after Nomura upgraded the stock to “buy,” citing strong growth prospects and attractive valuations. Nomura set a target price of Rs 3,242, expecting a 22% upside, driven by global market strength and strategic diversification. The company’s strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.

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