Himadri Speciality Chemical has become a strategic partner of Dalmia Bharat Refractories to engage in the corporate insolvency resolution process of Birla Tyres

Himadri Specialty hits 52-week high on CoC nod to Birla Tyres’ insolvency resolution plan

A person familiar with the new plan told ET that group companies of Dalmia Bharat have offered to repay about ₹300 crore of the outstanding loans of Birla Tyres. This is said to be three times their original offer to creditors. Birla Tyres competes in the commercial vehicle and two-wheeler tyres seg…

Dalmia Group submits revised debt resolution plan for Birla Tyres

The RP, who admitted ₹1,128 crore in claims from financial creditors, received over two dozen expressions of interest. It includes Ceat, Bain-Piramal backed India Resurgent Fund, Jindal Steel & Power, a Naveen Jindal company, Bommidala Enterprises, Purnendu Chatterjee-promoted MCPI and Himadri Speci…

Dalmia Bharat, Ruia Co in fray for Birla Tyres

The Supreme Court recently issued notices to MRF, JK Tyre, Apollo, CEAT and Birla Tyres and the Automotive Tyre Manufacturers’ Association pertaining to CCI’s appeal against the NCLAT order over alleged cartelisation

Explained | The allegations of cartelisation among domestic tyre manufacturers

Other strategic investors include Dickey Alternative Investments Trust, which acts through its fund manager Dickey Asset Management; RKG Fund-I, a trust operated by Prudent ARC; a consortium led by Stephens Financial Services and Edelweiss Alternative Asset Advisors.

Ceat, Jindal Power, Private Equity Funds among companies in race for Birla Tyres

Claims likely to be “much more” than the amount currently admitted

Claims to the tune of around ₹1,800 crore admitted so far by the RP for Birla Tyres

After the sale of shares, the bank’s holding now stands at 1,06,91,192 equivalent to nearly 7.50 per cent stake in Birla Tyres, as per data provided by the bank.

IndusInd Bank sells 38 lakh pledged shares of Birla Tyres

Private sector lender IndusInd Bank has invoked around 14.6 million pledged shares of BK Birla group company Birla Tyres, amounting to 10.21% of the total equity share capital of the insolvent tyre maker.

IndusInd Bank invokes 14.6 million pledged shares of Birla Tyres | The Financial Express

SRF said that Birla Tyres defaulted on payment of ₹15.84 crore for the supply of Tyre Cord Fabric as of July 8, 2021.

NCLT orders insolvency proceedings against Birla Tyres for payment default

Admits petition filed by SRF claiming a default in payment of ₹15.84 crore

Kolkata Bench of NCLT initiates insolvency proceedings against Birla Tyres

A two-member Kolkata bench of the NCLT has also appointed Seikh Abdul Salam as Interim Resolution Professional (IRP) to run the operations of the company after suspending the board.

NCLT orders to initiate insolvency proceedings against Birla Tyres

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Profitability and efficiency haven't been upto the mark

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Birla Tyres is a tyre manufacturer and supplies to commercial vehicles and 2-wheeler companies

Birla Tyres Ltd