JK Tyre, pioneers of Radial technology in India, has diversified and multinational presence.
Tyre Industry has been passing through difficult times owing to unprecedented slow down and disruption in supply chain. This has been aggravated by the impact of COVID-19 pandemic. It is anticipated that the situation may worsen further.
Dr. Raghupati Singhania, Chairman & Managing Director said, "Presently we are witnessing unprecedented difficult times, with both sales and profitability getting impacted due to Coronavirus. The TEAM JK TYRE is putting together its might to emerge as winners in this challenging situation. In response and acting in a show of solidarity in this critical time, it has come forward for a reduction in their salaries."
He further said," Chairman and Wholetime Directors of JK Tyre have taken a voluntary cut in their salary of 25% and other senior management personnel have also taken a voluntary reduction in their salary by 15- 20%. Pay cut also applies to its global operations."
The company has also taken extensive steps to ensure safety and welfare of its employees and their families.
Shares of JK TYRE & INDUSTRIES LTD. was last trading in BSE at Rs.35.05 as compared to the previous close of Rs. 34.55. The total number of shares traded during the day was 74060 in over 963 trades.
The stock hit an intraday high of Rs. 37 and intraday low of 31.5. The net turnover during the day was Rs. 2539402.