JK Tyre & Industries Ltd (NSE: JKTYRE) Share: There’s a buzz of excitement surrounding the automotive sector lately, with significant momentum driving growth across various companies within the industry.
Among them is JK Tyre, a prominent player in tyre manufacturing. It’s been riding a bullish trend for some time now, delivering impressive returns to investors within just a year.
Adding to the positive sentiment, brokerage houses are also showing confidence in JK Tyre, issuing a BUY rating. This endorsement further underscores the potential for growth and performance in the company’s shares.
Share Rise
On February 23, 2024, JK Tyre shares concluded trading on the NSE at Rs 512, marking a notable increase of Rs 9.20 (1.83%). Over the past half-year, investors in the stock have enjoyed dividends exceeding 92%.
Moreover, the company has witnessed a remarkable surge in its share value over the past year, with prices soaring by approximately 250%. JK Tyre’s share price peaked at Rs 553.95 in the last 52 weeks, while its lowest point stood at Rs 141.65 during the same period.
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Brokerage House Bullish on JK Tyre
Emkay Global Financial, a brokerage house, is recommending investors buy JK Tyre.
They believe that JK Tyre is focusing on making high-growth and high-profit tyres, especially for SUVs, by investing smartly in the right places. This strategy is helping them improve their finances by reducing debt.
The brokerage house also points out that nowadays, people care more about things like mileage, comfort, safety, and performance when buying tyres, not just the price. This shift is allowing companies like JK Tyre to make better profits.
Emkay Global Financial is maintaining its advice to buy JK Tyre and has set a target price of Rs 700.
JK Tyre Share Price Target
| Year | First Share Price Target | Second Share Price Target |
|---|---|---|
| 2024 | ₹490 | ₹550 |
| 2025 | ₹600 | ₹650 |
| 2026 | ₹700 | ₹750 |
| 2027 | ₹800 | ₹850 |
| 2028 | ₹900 | ₹950 |
| 2029 | ₹1000 | ₹1100 |
| 2030 | ₹1200 | ₹1300 |
| 2035 | ₹1800 | ₹2000 |
| 2040 | ₹2600 | ₹2800 |
| 2050 | ₹4000 | ₹4200 |
Conclusion
This article serves as a comprehensive guide to the 252% Share Price Increase: This automotive company’s share price target ₹650. The information and forecasts are derived from our analysis, research, company fundamentals, historical data, experiences, and various technical analyses. The article delves into the share’s prospects and growth potential in detail. Feel free to comment below if you have any further queries. We are more than happy to address all your questions. If you find this information helpful, consider sharing the article with as many people as possible.
Disclaimer:
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