Shares of JK Tyre and Industries on Thursday surged over 8 per cent after it reported strong financial performance for the September quarter.
The stock rose 7.62 per cent to close at Rs 75.60. It gained 13.87 per cent to touch an intra-day high of Rs 80 on the BSE.
On the National Stock Exchange, the scrip rose 8.90 per cent to Rs 76.50. Intra-day, the stock zoomed 14.37 per cent to Rs 80.35
JK Tyre & Industries on Wednesday reported over threefold jump in consolidated net profit to Rs 167.70 crore in the September quarter, driven by gains from deferred tax liability.
The company had posted a consolidated net profit of Rs 45.78 crore in the corresponding period of the previous financial year, JK Tyre & Industries had said in a regulatory filing.
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