Shares of JK Tyre and Industries Ltd. hit an all-time high on Thursday after its consolidated net profit jumped five times in the second quarter.
The company's profit increased to Rs 248.6 crore compared to Rs 49.6 crore in the year-ago period, according to an exchange filing on Wednesday. It also beat the consensus analyst estimates of Rs 203.4 crore.
JK Tyre's stock rose as much as 13.99% to Rs 351.25 apiece during the day. It pared gains to trade 8.47% higher at Rs 334.25 apiece compared to a 0.84% decline in the benchmark NSE Nifty 50.
Cyient Ltd, Mahindra Logistics Ltd, Bajaj Auto Ltd and Apollo Tyres Ltd are among the other gainers in the BSE s A group today, 22 January 2021.
Cyient Ltd, Mahindra Logistics Ltd, Bajaj Auto Ltd and Apollo Tyres Ltd are among the other gainers in the BSE s A group today, 22 January 2021.
JK Tyre & Industries Ltd soared 13.24% to Rs 130.9 at 11:48 IST. The stock was the biggest gainer in the BSE s A group. On the BSE, 26.28 lakh shares were traded on the counter so far as against the average daily volumes of 6.37 lakh shares in the past one month.
Cyient Ltd surged 11.50% to Rs 565.8. The stock was the second biggest gainer in A group. On the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 25833 shares in the past one month.
JK Tyre foresees a sustained sales and profitability during the coming period
Shares of tyre manufacturer JK Tyre Industries rose as much as 15.4 per cent to hit fresh 52-week high of Rs 133.40 on the BSE after it reported strong earnings in quarter ended December 2020. The Delhi-based tyre maker in an exchange filing post market hours on Thursday said that its consolidated profit came in at Rs 224 crore compared with Rs 11 crore during the corresponding period a year ago.
Its revenue from operations climbed 22 per cent to Rs 2,769 crore versus Rs 2,275 crore in the same quarter last year. JK Tyre s earnings before interest, taxes, depreciation, and amortization (EBITDA) or operating profit doubled to Rs 507 crore.
JK Tyre & Industries Ltd, Havells India Ltd, Gateway Distriparks Ltd and SML ISUZU Ltd are among the other gainers in the BSE s A group today, 21 January 2021.
JK Tyre & Industries Ltd, Havells India Ltd, Gateway Distriparks Ltd and SML ISUZU Ltd are among the other gainers in the BSE s A group today, 21 January 2021.
Sundaram Clayton Ltd surged 13.33% to Rs 3062.15 at 11:48 IST. The stock was the biggest gainer in the BSE s A group. On the BSE, 4988 shares were traded on the counter so far as against the average daily volumes of 251 shares in the past one month.
JK Tyre & Industries Ltd spiked 11.95% to Rs 118.95. The stock was the second biggest gainer in A group. On the BSE, 24.44 lakh shares were traded on the counter so far as against the average daily volumes of 4 lakh shares in the past one month.