Meanwhile, the S&P BSE Sensex was down 55.24 points or 0.17% at 32,886.63. The S&P BSE Mid-Cap index was down 39.26 points or 0.24% at 16,455.46.

On the BSE, 32,000 shares were traded on the counter so far as against the average daily volumes of 1.91 lakh shares in the past one quarter. The stock had hit a high of Rs 145.45 and a low of Rs 143.20 so far during the day. The stock had hit a record high of Rs 186.55 on 8 June 2017 and a 52-week low of Rs 106 on 21 November 2016.

The mid-cap company has equity capital of Rs 45.36 crore. Face value per share is Rs 2.

Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries said that considerably higher raw material prices as compared to the corresponding quarter have impacted profits. The imposition of anti-dumping duty on cheap Chinese truck/bus radials, announced towards the end of the quarter, is a welcome step. This will help the company to muster higher volumes, he said.

The government's focus on roads and infrastructure, supported by affordable consumer financing, is likely to revive commercial vehicle sales which shall have a positive impact on commercial tyre sale in the coming period, JK Tyre & Industries said.

JK Tyre & Industries is a leading tyre manufacturer in India.