Suggest to buy Balkrishna Industries in the tyres space: Deven Choksey_Suggest to buy Balkrishna Industries in the tyres space: Deven Choksey

Suggest to buy Balkrishna Industries in the tyres space: Deven Choksey

May 29, 2024

It’s Eastern time.

Deven Choksey, Managing Director of KR Choksey Securities, shares his thoughts on tires in an interview with ET Now in… Edited excerpt:

ET Now: There was some fund buying in JK Tyre yesterday. CEAT has launched a QIP and FIIs can invest more. Do you like any of these tire names?

Deven Choksey: Balkrishana Industries has no other stocks. From an investment standpoint, we think the company’s fundamentals are in a very favorable position. I am not sure about the current valuation. The market may have taken a faster approach to achieve a higher valuation. We recommend that you wait for some time before buying in order to use some of the fixes.

So far, people have prioritized some high beta stocks with very bright growth prospects. In the infrastructure space, the government is making relatively quick decisions. Some of the infrastructure in the asset ownership business could have better returns in the future.

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