Page 2 - Jk Tyre

Tyre stocks in focus; Balkrishna Ind at record high, Apollo Tyres jumps 5%

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021

JK Tyre expects economic revival, growth going ahead: CMD Singhania

JK Tyre & Industries expects economic revival and growth going ahead after an unprecedented FY21, but rising commodity prices and the potential turbulence of the pandemic remain causes of concern, according to company Chairman & Managing Director Raghupati Singhania. In his address to shareholders in the company's annual report for 2020-21, Singhania described the last fiscal as "unprecedented and perhaps the most challenging of our lives". "Perhaps it was the first time in the history of JK Tyre that all operations had to be completely suspended, as also those of our stakeholders, including vendors or channel partners," he said in the report. The company responded to the adverse situation with the philosophy of 'survive, revive and thrive' and travelled on the path of transformation with well-strategised plans, including the creation of virtual offices that enabled resumption and ramping up of operations smoothly as soon as the economy started reopening, he added. On the ...

JK Tyre posts consolidated net profit of Rs 44 cr in June quarter

JK Tyre & Industries on Saturday said it has posted a consolidated net profit of Rs 44 crore for the first quarter ended June 2021. The tyre major had reported a net loss of Rs 204 crore in the April-June period of 2020-21 fiscal amid COVID-19 disruptions. Revenue from operations rose to Rs 2,608 crore in the first quarter from Rs 1,131 crore in the year-ago period, JK Tyre & Industries said in a statement. On a standalone basis, the company posted a net profit of Rs 45 crore. The tyre maker had reported a net loss of Rs 75 crore during the June quarter of FY'21 fiscal. Revenue from operations rose to Rs 1,726 crore during the period under review as compared with Rs 794 crore in the first quarter of 2020-21 fiscal. Commenting on the results, JK Tyre Chairman and Managing Director Raghupati Singhania said the first quarter started on a subdued note due to resurgence of the second wave of the COVID-19 pandemic and lockdowns which impacted demand. "Despite these challenging ...

JK Tyre posts consolidated profit after tax of Rs 194 cr for March quarter

Revenue from operations in the quarter under review rose by 63.21 per cent to Rs 2,927.28 crore compared to Rs 1,792.56 crore in Q4FY20

JK Tyre zooms 51% in 4 days, hits fresh 52-week high on robust Q3 results

The strong performance during the quarter was largely driven by the increased demand for passenger, commercial vehicle as well as farm tyres

Tata Motors, IDFC First Bank, JK Tyre rally over 50% in one month

Shares of JK Tyre & Industries soared 13 per cent hit hit its fresh 52-week high of Rs 120 today.

Tyre stocks in demand; JK Tyre rallies 15%, MRF scales fresh high

Shares of JK Tyre & Industries hit a 52-week high of Rs 103.80 amid heavy volumes

JK Tyre gains 5% on strong Q3 performance by subsidiary Cavendish

The management said increased volumes in truck tyres, both radial and bias, LCV and agricultural tyres have contributed to higher sales

Tyre stocks on a roll. JK Tyre soars 27% in 2 days, Ceat hits 52-week high

Apollo Tyres, MRF and Balkrishna Industries were up in the range of 2% to 5% on the BSE.

JK Tyre gains 9% on strong operational performance in September quarter

The management said the profitability during the quarter improved significantly due to aggressive cost-cutting measures.

JK Tyre, other companies face antitrust scrutiny in bid-rigging case

NEW DELHI (Reuters) - India's antitrust regulator is investigating JK Tyre & Industries Ltd after a state government accused the company of bid rigging, and the probe has been expanded to other firms, according to sources and legal filings seen by Reuters.

Cautiously optimistic of reaching pre-Covid sales by Dec-end: JK Tyre CMD

About Covid-19, Raghupati Singhania says it has caused the company to defer its expansion plans

JK Tyre reports net loss of Rs 204 cr in June qtr as Covid-19 hits sales

Net sales declined to Rs 1,138.14 crore in the first quarter as compared with Rs2,581.47 crore in the year-ago period, JK Tyre said in a statement

Tyre stks in focus; JK Tyre, TVS Srichakra gain up to 10% in a weak market

DGFT, vide its June 12 notification, has placed import of major tyre categories in the 'restricted' category from the 'free' category earlier.

Uncertainity around Q2 performance of businesses: Harsh Pati Singhania

The return to normalcy will also depend largely on how quickly the consumers also recover from the overall impact of the coronavirus outbreak and the lockdown, he said

Covid-19: Harsh Singhania says only a stimulus package can revive economy

"Even if we start producing, where is the transport, supply chain and customers? If shops are not open, then it makes no sense to keep producing and stocking in the factory sites," said Singhania.

A brand of many firsts, the JK Group trying to live up to its legacy

The British-era company, which started as textiles business, has diversified significantly into other businesses to become the conglomerate it is today

JK Tyre bets big on exports, replacement market to beat auto sales slump

JK Tyre & Industries expects exports to grow around 50 per cent in the ongoing fiscal to clock over Rs 800 crore, which along with domestic replacement market will help offset decline in direct sales to automobile makers, according to a senior company official. Due to the ongoing slump in the Indian automobile sector, the company has seen contribution from Original Equipment Manufacturer (OEM) segment to its overall sales decline to around 20 per cent from an earlier 32-33 per cent. "We could actually combat that slowdown in OEMs (sales) to a large extent through increase in sales in the replacement market and exports," JK Tyre & Industries CFO Sanjeev Agarwal told PTI. For example, he said in December JK Tyre's exports have gone up by more than 40 per cent and in the replacement market it grew by 18 per cent. "Similarly, in the first nine months, the growth has been very good in the export market segment and also in replacement market. These have become a saviour for us and ..

JK Tyre jumps 14% as Q2 net profit surges over three-fold to Rs 168 crore

It had posted a profit of Rs 45.78 crore in the same period last fiscal.

High-leverage entities losing favour amid worries of corporate defaults

Investors looking to shift funds to firms with comfortable debt levels