India's JK Tyre rises on fourth-quarter profit climb

JK Tyre & Industries

22/05/2024 05:26

** Shares of JK Tyre & Industries  JKIN.NS  rise 5.7% to
427.6 rupees
    ** Stock on track for best day since Jan 23, if gains hold
    ** Co's Q4 profit climbed ~56% YoY
    ** Rivals MRF  MRF.NS , CEAT  CEAT.NS  and Apollo Tyres
 APLO.NS  reported drop in their Q4 profit 
    ** MRF stock down 0.3% on the day, CEAT and APLO up 0.2% and
1.1%, respectively
    
               Analysts'   Median Price  Current      YTD change
 Name          avg         Target*       price        (%)
               rating*     (rupees)      (rupees)     
 JK Tyre       Hold        595.5         427.6        7.4
 MRF           Sell        108,830       129,246.05   -0.3
 CEAT          Buy         2,940         2,374.05     -2.2
 Apollo Tyres  Buy         531.5         488.05       7.5
 * LSEG data

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))