JK Tyre shares jump 6% after Emkay Global raises target price, cites current 'undervaluation'

JK Tyre share price

The shares of JK Tyre & Industries jumped more than 6 percent on December 23 after Emkay Global issued a bullish brokerage call for the stock, raising its target price.

The shares of the tyre-maker rose to a fresh 52-week high of Rs 522.05 apiece on Tuesday, before paring some gains.

Emkay Global on JK Tyre:

Emkay Global in its latest note reiterated its ‘Buy’ call on the stock, raising its target price to Rs 625 per share. This implies an upside potential of more than 27 percent from the stock’s previous closing price of Rs 490.90 per share.

The domestic brokerage said that the firm is entering a phase of accelerating revenue growth and offers valuation comfort compared to peers. It added that the stock appears to be undervalued at current levels.

Emkay said that the company’s Rs 5,000-crore medium-term capex plan enhances multiyear growth visibility. JK Tyre’s strong cash generation would help fund most of the capex, it added.

JK Tyre share price:

JK Tyre & Industries shares have gained nearly 9 percent in the past one week, and over 14 percent in the past one month. The stock is up nearly 32 percent in 2025 so far, after jumping 202 percent in the past three years and 585 percent in the past five years.

After hitting a 52-week low of Rs 243 per share in March this year, the stock more than doubled (115 percent) in nine months to hit a 52-week high of Rs 522.05 today.

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