India's JK Tyre jumps on report of capacity expansion plans

JK Tyre & Industries

19/04/2023 10:33

** Shares of JK Tyre & Industries  JKIN.NS  rise to a
three-month high on report of capacity expansion plans
    ** Co to spend 8 bln rupees, and aims to enhance capacity by
2 mln units end-FY2024, report says
    ** Shares rise 4.11% to 173.40 rupees, before cutting gains
to 1.83% at 169.60 rupees
    ** Co has already spent 3 bln rupees for expansion, as part
of an 11-bln rupee allocation
    ** Reuters is awaiting response to queries seeking
confirmation of co's plans
    ** Trading volume is 2.10 mln shares as of 2:48 p.m. IST,
1.2x the 30-day avg - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))