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JK Tyre rises after tie up with Kia Motors India

Capital Market 

JK Tyre & Industries rose 1.43% to Rs 81.85 after the company announced a tie-up with Kia Motors India as a tyre partner for their highest selling model Seltos.

The tyre maker said it will provide its UX Royale 215/60 R17 radial tyre to Kia Seltos.

Commenting on the partnership, V K Misra, technical director, JK Tyre and Industries said, Through this collaboration, we endeavour to provide the highest quality tyres with innovative features to complement the drive experience for the customer. We are keenly optimistic that this association will further strengthen our market presence and we look forward to a continued and reinforced partnership with Kia Motors.

JK Tyre's consolidated net profit dropped 35.4% to Rs 108.91 crore on 5.6% increase in net sales to Rs 2,274.84 crore in Q2 September 2020 over Q2 September 2019.

JK Tyre & Industries manufactures a wide range of automobile tires, tubes and flaps. The company also operates a chain of tire outlets across the country which sell the company's tires in addition to providing a range of automotive services, including wheel alignment and tire changing.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 24 2020. 11:49 IST