JK Tyre & Industries jumps on looking to expand retail network across country

JK Tyre & Industries is currently trading at Rs. 154.90, up by 2.10 points or 1.37% from its previous closing of Rs. 152.80 on the BSE.

jk tyre and industries reports 79 fall in q4 consolidated net profit
JK Tyre

The scrip opened at Rs. 155.00 and has touched a high and low of Rs. 156.00 and Rs. 153.45 respectively. So far 35825 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 213.50 on 09-Dec-2022 and a 52 week low of Rs. 96.40 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 156.85 and Rs. 152.00 respectively. The current market cap of the company is Rs. 3812.89 crore.

The promoters holding in the company stood at 56.26%, while Institutions and Non-Institutions held 8.76% and 34.99% respectively.

JK Tyre & Industries is looking to expand its retail network across the country by up to 20 per cent over the next 12-18 months. The company, which on February 20, 2023 expanded its retail presence in North India by opening six outlets, is also looking to bolster presence in the fast-growing sports utility vehicle and electric vehicle verticals.

The company launched six new brand shops spread across Uttar Pradesh, Haryana and Rajasthan as part of its plans to improve presence especially in smaller towns and rural areas. JK Tyre now has 221 brand outlets in the northern part of the country.

JK Tyre & Industries is a one of the leading tyre manufacturers in India and amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments that includes Truck/Bus, LCV (Light commercial vehicles), Passenger Cars, MUV (Multi utility vehicles) and Tractors.

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