JK Tyre and Industries saw a robust start to Thursday s trading session, with its stock opening at ₹344 per share, a significant increase from the previous day s close at ₹308.15. It continued to perform well, reaching a peak of ₹351.25 per share, reflecting a remarkable 14% increase.
R. Jayakanthan of TCS, Chennai, wins BusinessLine Cerebration Corporate Quiz, 2023 thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
In its results for Q1FY24 filed on August 4, the company reported a 2.1 percent YoY rise in its revenue from operations at Rs 3,718.1 crore for Q1FY24 as compared to Rs 3,643 crore in Q1FY23.
In the fourth quarter, the company s consolidated net profit surged over two-fold on year to Rs 112 crore, aided by robust demand in the domestic market for both passenger and commercial vehicle radial tyres
While the bulk of the capex Rs 530 crore will be deployed towards ramping up the output of passenger car radials, the remainder Rs 270 crore will be spent towards capacity expansion of truck and bus radials