India's JK Tyre skids to 15-month low as profit drops again

JK Tyre & Industries

05/02/2025 05:55

** Shares of JK Tyre  JKIN.NS  drop as much as 5% to 297.65
rupees, lowest since Oct. 2023
    ** Tyre maker reports lower profit for second straight qtr
on weak demand from truck and bus customers, margin hit from
higher raw material costs
    ** Trading volume on the day is heaviest in nearly two
months, with volumes 4.3x the 30-day avg 
    ** JKIN is rated "buy" on avg by four brokerages, median PT
is 490 rupees - LSEG data 
    ** Stock last down 2.6%, taking YTD drop to ~21%; broader
Nifty 500  .NIFTY500  has dropped ~2% YTD

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))