JK Tyre scales record high as board to consider stock-split

JK Tyre & Industries gained 3.66% to Rs 518 at 11:05 IST on BSE after the company scheduled a board meeting on 25 September 2014 to consider stock-split proposal.

The announcement was made during market hours today, 22 September 2014.

Meanwhile, the S&P BSE Sensex was down 116.80 points or 0.43% at 26,973.62

On BSE, so far 4.47 lakh shares were traded in the counter as against average daily volume of 2.28 lakh shares in the past one quarter.

The stock hit a record high of Rs 534.90 so far during the day. The stock hit a low of Rs 497 so far during the day. The stock had hit a 52-week low of Rs 89.05 on 25 September 2013.

The stock had outperformed the market over the past one month till 19 September 2014, rising 72.37% compared with the Sensex's 2.53% rise. The scrip also outperformed the market in past one quarter, gaining 70.02% as against the Sensex's 7.49% rise.

The small-cap tyre maker has equity capital of Rs 41.06 crore. Face value per share is Rs 10.

JK Tyre & Industries' consolidated net profit rose 0.3% to Rs 55.44 crore on 0.6% fall in total income to Rs 1867.75 crore in Q1 June 2014 over Q1 June 2013.

JK Tyre & Industries is engaged in designing, developing, manufacturing, distributing and servicing of conventional and radial tyres, tubes and flaps. It manufactures truck and bus radials, steel radials for cars, light commercial vehicle (LCV), truck and bus.

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