The announcement was made after market hours yesterday, 9 February 2015.

Meanwhile, the S&P BSE Sensex was up 226.16 points or 0.8% at 28,435.55

On BSE, so far 8.21 lakh shares were traded in the counter as against average daily volume of 4.08 lakh shares in the past one quarter.

The stock hit a high of Rs 121.35 and a low of Rs 111.75 so far during the day. The stock had scaled a record high of Rs 162.95 on 19 December 2014. The stock hit a 52-week low of Rs 26.70 on 18 February 20414.

The stock had underperformed the market over the past one month till 9 February 2015, falling 21.9% compared with 2.80% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.76% as against Sensex's 1.29% rise.

The small-cap tyre maker has equity capital of Rs 45.36 crore. Face value per share is Rs 2.

JK Tyre & Industries, CMD, Raghupati Singhania said that the company's emphasis on truck and bus radials continued to help it achieve higher growth and maintain its leadership position in truck/bus radials.

JK Tyre & Industries is engaged in designing, developing, manufacturing, distributing and servicing of conventional and radial tyres, tubes and flaps. It manufactures truck and bus radials, steel radials for cars, light commercial vehicle (LCV), truck and bus.