Emkay cuts PT on India's JK Tyre on slower demand recovery in commercial vehicles

JK Tyre & Industries

25/03/2025 08:32

** India's JK Tyre & Industries JKIN.NS down 2.47% at 289.65 rupees, on track to snap five sessions of gains

** Emkay Global cuts PT for India's JK Tyre by 20% to 400 rupees

** Says demand revival in commercial vehicles, key for margin improvement, has been slower than expected

** Adds, raw material costs have been sustained at higher levels for longer

** But brokerage maintains 'buy' on stock, citing likely sequential improvement in demand, reasonable valuations, and resilient exports despite global uncertainties

** PT implies 38% upside to current price

** Including session's decline, stock down 30.5% in the last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))