JK Tyre and Industries surges on planning capital expenditure of Rs 1,100 crore till next financial year
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JK Tyre & Industries is currently trading at Rs. 115.80, up by 0.85 points or 0.74% from its previous closing of Rs. 114.95 on the BSE.
The scrip opened at Rs. 116.45 and has touched a high and low of Rs. 116.45 and Rs. 115.40 respectively. So far 9633 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 171.60 on 19-Oct-2021 and a 52 week low of Rs. 98.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 124.95 and Rs. 108.25 respectively. The current market cap of the company is Rs. 2850.12 crore.
The promoters holding in the company stood at 56.26%, while Institutions and Non-Institutions held 9.40% and 34.35% respectively.
JK Tyre and Industries has planned a capital expenditure of Rs 1,100 crore till next financial year. The tyre maker plans to invest in capacity expansion as well as regular maintenance of the existing infrastructure.
Total spend over the next two years, ie, FY23 and FY24 would be Rs 1,100 crore, including maintenance capex of around Rs 300 crore. The majority of the capex -- Rs 530 crore-- will go into the passenger car radial (PCR) capacity expansion. The company has also lined up capacity expansion of truck bus radial (TBR) at its unit Cavendish Industries.
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.
