JK Tyre & Industries Stock Hits 52-Week High with 13.94% Surge on Stellar Q2 Performance
JK Tyre & Industries witnesses an impressive 13.94% surge in its stock price, reaching a 52-week high of Rs 351.05 on the BSE, driven by a five-fold increase in consolidated net profit for the September 2023 quarter. The NSE also experienced a similar trend with a 13.98% gain. Chairman and Managing Director Raghupati Singhania attributes this remarkable performance to the company's ongoing efforts to expand its market presence and boost volumes across various segments and product categories.
JK Tyre & Industries witnessed a remarkable surge in its stock price, with a 13.94% jump to Rs 351.05, marking a new 52-week high on the BSE. A similar trend was observed on the NSE, where the stock soared by 13.98% to reach its 52-week high of Rs 351.25. This surge was fueled by the company's exceptional performance, which saw its consolidated net profit for the September 2023 quarter increase five-fold.
On Wednesday, JK Tyre & Industries reported a consolidated net profit of Rs 249 crore for the September quarter, a substantial growth compared to the Rs 50 crore in the same period in the previous fiscal year. The company's net revenues in the second quarter also saw an increase, rising to Rs 3,905 crore from Rs 3,764 crore in the year-ago period.
JK Tyre & Industries' Chairman and Managing Director, Raghupati Singhania, attributed this impressive performance to the company's sustained efforts to expand its market presence, resulting in increased volumes across various segments and product categories.
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