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Tyre stocks raced ahead on May 21, led by JK Tyre’s robust quarterly results. Stable input costs and margin hopes keep outlook bright
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Emkay Global Financial is bullish on JK Tyre has recommended buy rating on the stock with a target price of Rs 500 in its research report dated February 11, 2025.
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The company will invest the funds in a sustainable expansion of production capacities at its Madhya Pradesh-based passenger car radial tyre facility, the tyre maker said in a statement.
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Emkay Global Financial is bullish on JK Tyre has recommended buy rating on the stock with a target price of Rs 650 in its research report dated November 07, 2024.
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JK Tyre Q2 results: Revenue declines 7% to Rs 3,622 crore
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JK Tyre's board has approved the merger with Cavendish Industries, offering 92 JK Tyre shares for every 100 Cavendish shares, aimed at boosting operational synergies and enhancing shareholder value.
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Both the companies are engaged in a similar line of business, and the amalgamation will result in all the related businesses being housed under one listed company.
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JK Tyre doesn’t see much of a slowdown in the bus segment, where it is a big player, and the company has also bagged ‘sizeable orders’ across EV segments, Singhania has said
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The tyre maker has reported a net profit of Rs 154 crore for the April-June quarter of last fiscal
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Under the partnership, JK Tyre will provide its new generation of electric vehicle tyres with 'connected treel sensors' for real-time monitoring to EKA's fleet thus offering comprehensive tyre management through its mobility solutions programme.
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CMD Raghupati Singhania said the company will deploy around Rs 1,000 crore for expanding its Passenger Car Radials capacity while Rs 380-390 crore will be spent on ramping up the output of Off The Road and Truck and Bus Radials.
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The company reported 56 percent year-on-year (YoY) increase in consolidated net profit to Rs 169 crore in Q4FY24, driven by upbeat demand
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Sequentially, however, the company's profit declined of 23.35 percent
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Emkay Global Financial is bullish on JK Tyre has recommended buy rating on the stock with a target price of Rs 700 in its research report dated February 23, 2024.
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Anshuman Singhania had earlier indicated that he expects raw material prices to increase by 3-4 percent in Q3 FY24 due to the ongoing Israel-Hamas war
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In an interaction with PTI, JK Tyre & Industries MD Anshuman Singhania expressed hope that the tyre maker would also continue to witness momentum in its top line and profitability.
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He revealed that the Israel-Hamas war will impact crude oil prices, which are almost 55 percent of the cost of a tyre
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JK Tyre stock has given a return of 70.85 percent over the last six months, as of November 1 close. The benchmark Nifty50 index has given a return of 4.64 percent over the same duration.
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The company had reported a consolidated net profit of Rs 50 crore in the July-September period of the last fiscal.
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The company aims to reach an enhanced capacity by October 2025.
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The expansion will result in a 31 per cent increase in the plant's annual output capacity, from 39 lakh units to 51 lakh units.
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The current growth in the automobile sector should result in a 10-12% expansion in the tyre market, feels Singhania.
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JK Tyre Chairman and Managing Director Raghupati Singhania noted that demand remains strong across most segments of the domestic automobile industry.
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The company had reported a net profit of Rs 54 crore in the October-December quarter of the previous fiscal.
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The company has not been able to pass on the entire cost increase and further price hikes are under consideration, said Anuj Kathuria, President (India), JK Tyre & Industries.
