New Delhi, May 26 -- Shares of Balkrishna Industries plunged more than 10 percent in intraday trade on Monday, May 26, after the tyre manufacturer posted weak financial results for the March quarter of FY25 and faced a downgrade from Nomura. The Japanese brokerage house revised its rating from "buy" to "neutral" and sharply cut its target price, citing increased risks stemming from the company's foray into more competitive market segments.

Balkrishna Industries Ltd reported a 25 percent year-on-year drop in standalone net profit for the quarter ended March 2025, with profits falling to Rs.362 crore. This decline came despite a modest 5 percent increase in revenue, which stood at Rs.2,838 crore, as per the company's investor presentation....