InvestorQ : I am holding JK Tyre and wanted to know if I should sell the stock after the latest quarter results?
Rutuja Nigam made post

I am holding JK Tyre and wanted to know if I should sell the stock after the latest quarter results?

Answer
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Arti Chavan answered.
3 months ago


JK Tyre reported a loss of Rs.52.8 crore for the Marr-20 quarter due to subdued demand in the Indian and the export markets. It had reported a net profit of Rs.33.66 crore the Mar-19 quarter. Revenues from operations also were lower by 33.6% at Rs.1795 crore. Their biggest consumption market of four wheelers and two wheelers were forced to shut factories from 22 March following the lockdown announced by the government to contain Covid-19 pandemic. JK Tyre commenced production at its factories only on 8 May and that too in a staggered manner. The full effect of the lockdown will only be felt in the June quarter. However, the export segment remained robust for JK Tyres and registered a growth of 37% on a YOY basis. JK Tyres shares have corrected sharply to Rs.61 levels and the downside risk may be limited. Traders can look to gradually accumulate the stock on dips with a 6 months perspective.