Emkay Cuts Price Target for JK Tyre Amid Slower CV Demand Recovery

Emkay Global has reduced its price target for JK Tyre due to slower-than-expected recovery in demand from commercial vehicles. Despite a promising replacement market, the company's Q3FY25 performance was impacted by high-cost inventory and subdued demand from CV OEMs. The brokerage maintains a "buy" rating, anticipating gradual demand improvement and cost reversals in Q4FY25. JK Tyre's strategic focus on technological advancements and capacity enhancements remains positive. However, risks include raw material price volatility and demand slowdowns.

 

Source: Emkay Global, CNBC TV18