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JK Tyre partially resumes operations in India

Posted On: 2020-05-08 15:58:17


Indian tyre industry major and the pioneer of radial tyre technology in the country, JK Tyre & Industries Ltd, today announced partial resumption of operations after adhering to the guidelines issued by the Ministry of Home Affairs, Government of India and permissions granted by the respective state governments and local authorities.

JK Tyre has commenced production in a graded manner at its manufacturing facilities in Chennai (Tamil Nadu), Kankroli (Rajasthan) and Laksar (through Cavendish industries Ltd.- subsidiary company, in Uttarakhand). The Company has also resumed operations at its global Research & Development hub, Raghupati Singhania Centre of Excellence, Mysore, Karnataka. The remaining manufacturing plants of JK Tyre in India and Mexico are in preparatory mode and will resume operations subsequently.

All the facilities will function with restricted manpower and stringent precautionary measures to ensure safety, sanitisation and social distancing.

Only the essential staff will be allowed to the listed facilities and the remaining employees across corporate office, sales offices and other plants will continue to work from home until further notice.

JK Tyre has kept the safety and wellbeing of its employees at the core of its resumption roadmap. The Company has prepared a detailed 'SOP Manual' that has been shared with the employees and supply chain partners much before the commencement of operations.

Commenting on the occasion, Dr. Raghupati Singhania, Chairman & MD, JK Tyre & Industries Ltd., commented, "As a nation, we are passing through a challenging phase, yet it is imperative that we take small, but significant steps in our endeavour to achieve the right balance again. While we recommence our manufacturing operations, we are placing the safety and well-being of our employees and communities, which are the prime importance of our resumption plan. We have worked out a thorough and stringent roadmap that is not only aligned with the protocols of the authorities, but goes a step further in ensuring access to safe workplace. We are optimistic that the economy and business ecosystem will gradually proceed towards recovery in the coming months."

Shares of JK TYRE & INDUSTRIES LTD. was last trading in BSE at Rs.51.3 as compared to the previous close of Rs. 47.55. The total number of shares traded during the day was 93899 in over 1391 trades.

The stock hit an intraday high of Rs. 52 and intraday low of 47.3. The net turnover during the day was Rs. 4715269.


Source: Equity Bulls

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