JK Tyre intends to invest Rs 1,200 crore
JK Tyre & Industries has made announcement that the company has decided to make an investment of Rs 1,200 crore over the upcoming 3-4 years with the aim to spread out its capacity, including building a greenfield car radial facility in South India.
At present, the company creates 158 lakh units of tyres internationally of its three brands -- JK Tyre, Vikrant and Tornel.
Company’s four Indian facilities contribute 92 lakh units, while the rest comes from the three Mexican plants.
By March next year, company’s total capacity in India would be enlarged up to 98 lakh including addition of 5 lakh units of car radials at the plant near Gwalior in Madhya Pradesh.
Stock of JK Tyre & Industries Ltd ended the day in green at Rs 147, up 2.28% on Bombay Stock Exchange (BSE).The total volume of shares traded on BSE was 95,252.