India's JK Tyre rises after seeking shareholder nod for $60 mln fundraise

JK Tyre & Industries

18/12/2023 10:00

** Shares of JK Tyre & Industries  JKIN.NS  up nearly 12% to
all-time high 
    ** Co seeks shareholder approval to raise funds of 5 bln
rupees ($60 mln) via qualified institutional placement (QIP)
    ** Trading volume nearly 6x its 30-day moving avg 
    ** Avg rating of four analysts on JKIN at "hold"; median PT
is 396 rupees vs current price of 391.25 rupees - LSEG data
    ** Including session's move, stock more than doubled so far
this year
    
($1 = 83.0229 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))