Ace investor Sachin Bansal ups stake in this tyre stock during Q3

Ace investor Sachin Bansal has picked up another 0.4% stake in JK Tyres during the December quarter, according to the latest shareholding data available with the exchanges.

In the quarter, Sachin Bansal added about 10 lakh units to increase his total shareholding in the company to about 5.32% as of December- end. In the September quarter, the investor held about 4.92% stake in the company.

Promoters own about 56.26% in the company, while the remaining 43.74% rests with the public.

JK Tyre has recorded muted performance on the bourses this year, down about 2.61%. In the last 6 months, however, the stock has risen about 53.15% and 28.68% in the last one year.

The consensus estimate for the stock is "hold". JK Tyre has an average target price of Rs 177.67, which represents a downside of -2.06% from the current levels. On Thursday, the scrip was down about 0.38% to last trade at Rs 181.40 on the NSE.

Technically, the company is trading below 5 out of 8 SMAs (simple moving averages).

JK Tyre and Industries is one of India’s foremost tyre manufacturers in India and its products cater to diverse business segments in the automobile industry. The company also provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, off-the-road and two- & three-wheelers. JK Tyre is present in 105 countries and the company has 12 globally benchmarked manufacturing facilities — 9 in India and 3 in Mexico — that collectively produce around 35 million tyres annually.

As per corporate shareholdings filed till September quarter, Sachin Bansal publicly holds 5 stocks with a net worth of over Rs 650 crore.

Besides JK Tyre, other holdings of Sachin Bansal include West Coast Paper Mills, where he has about 2.67% and JK Paper (1.8%). The expert investor also holds about 6.91% stake in Mangalam Cement and 13.31% in SML Isuzu, according to the latest shareholding data available.

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