JK Tyre shines on completing first phase of capacity expansion at Madhya Pradesh facility
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JK Tyre & Industries is currently trading at Rs. 217.80, up by 10.40 points or 5.01% from its previous closing of Rs. 207.40 on the BSE.
The scrip opened at Rs. 206.05 and has touched a high and low of Rs. 218.00 and Rs. 206.05 respectively. So far 160393 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 219.85 on 30-June-2022 and a 52 week low of Rs. 100.60 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 219.85 and Rs. 191.20 respectively. The current market cap of the company is Rs. 5257.03 crore.
The promoters holding in the company stood at 56.26%, while Institutions and Non-Institutions held 7.95% and 35.79% respectively.
JK Tyre & Industries has completed the first phase of capacity expansion of their manufacturing facility located in Banmore, Madhya Pradesh. With an investment of about Rs 1000 crore, the company has planned a two-phased expansion at its existing Banmore facility to cater to the increasing demand for passenger car radial (PCR) tyres. The phase one expansion, involved an investment of Rs 312 crore. The expansion will increase the annual production capacity of the plant by 31%, from 39 lakh to 51 lakh units per annum.
The company is now in the second phase of expansion, with an additional investment of Rs 617 crore that will increase the capacity by an additional 31% by April 2024. JK Tyre plant at Banmore has contributed significantly in the field of health, adult literacy, livelihood enhancement, rural development, promotion of local sports which has benefitted the lives of communities in the vicinity.
The JK Tyre plant in Banmore has been an integral part of the company's incredible journey since it commenced in 1991 and has developed into an advanced manufacturing facility. This state-of the-art facility serves customers both domestically and internationally, manufacturing top-notch high-tech products such as eco-friendly tyres, smart tyres, and puncture guard tyres. These innovative offerings not only promote safe driving practises but also contribute to environmental sustainability.
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.
