Trending stocks: JK Tyre shares slip over 3%

Trending stocks: JK Tyre shares slip over 3%

NEW DELHI: Shares of JK Tyre & Industries Ltd. traded 3.37 per cent down in Tuesday’s trade at 10:38AM (IST). Around 133,963 shares changed hands on the counter.

The counter opened at Rs 63.0 and touched an intraday high and low of Rs 63.0 and Rs 59.5, respectively, in the session so far. The stock of JK Tyre & Industries Ltd. quoted a 52-week high of Rs 87.7 and a 52-week low of Rs 31.5.

Total market cap of the JK Tyre & Industries Ltd. stood at Rs 1519.24 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 2199.8 crore for the quarter ended 31-Dec-2019, up 2.08 per cent from previous quarter’s Rs 2154.95 crore and up 19.44 per cent from the year-ago quarter’s Rs 2730.77 crore.

The net profit for latest quarter stood at Rs 10.95 crore, down 58.96 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, domestic institutional investors held 0.01 per cent stake in the firm, while foreign institutional investors held 2.52 per cent and the promoters 56.23 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 6.56 and a price-to-book ratio of 0.63. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

JK Tyre & Industries Ltd. belongs to the Tyres & Tubes industry.

Source: ET Markets

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