India's JK Tyre speeding up focus on raising share in high-margin segment, notes Emkay

JK Tyre & Industries

23/02/2024 07:34

** Shares of JK Tyre & Industries Ltd  JKIN.NS  rise as much
as 2.6% to 515.95 rupees
    ** Emkay Global retains "buy" on co; TP of 700 rupees
unchanged
    ** Management at investor meeting said, co accelerating
focus on high-growth, high-margin passenger car radial (PCR)
tyres via well-timed capex, largely in the sports utility
vehicle tyres segment
    ** Co expects shift in buying preferences, along with fleet
management solutions to act as an incremental growth lever -
Emkay
    ** "Sustained margins and accelerated deleveraging to drive
re-rating," says Emkay
    ** YTD JKIN shares up 28.7%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))