Shares of JK Tyre & Industries rose on higher Q4 profit. The stock jumped as much as 7.8 per cent to Rs 155.7; it posted its biggest intraday percentage gain since February 12.
The company’s consolidated net profit surged 63 per cent to Rs 145 crore ($21.37 million) for the fourth quarter ended March 31. It has an estimated PE of 276.91, far exceeding the sector average of 55.16. Up to Thursday's close, the stock was down 2.2 per cent this year.