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 companys strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.