India's JK Tyre extends losses after Q1 rev drop

JK Tyre & Industries

05/08/2024 08:10

** Shares of India's JK Tyre & Industries  JKIN.NS  drop 4%,
set to slide for a fourth consecutive session, if losses hold 
    ** Fall amid broader weakness; Nifty 50  .NSEI  sheds ~3%
 .BO 
    ** Co's consol Q1 rev falls 2%, net profit rises 37% 
    ** Peers CEAT  CEAT.NS  and MRF  MRF.NS  decline 5% and 1.8%
on the day 
    ** Co, CEAT rated "buy" on an average while MRF rated "sell"
- LSEG data
    ** Day's drop trims stock's YTD gains to 4.2% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))