JK Tyre's Mexican arm to sell shares of Cavendish Industries at INR 1.3 bln
This story was originally published at 19:42 IST on 19 November 2025
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AHMEDABAD – JK Tyre & Industries Ltd.'s Mexican subsidiary JK Tornel, S.A. de C.V., will sell 4 million shares of Cavendish Industries Ltd. to SMMS Trust for INR 1.3 billion, the company said in a filing with the stock exchanges Wednesday.
JK Tyre had acquired JK Tornel in 2008. JK Tornel has a stake in Cavendish Industries, a tyre-making company with manufacturing units in Uttarakhand. JK Tyre had bought Cavendish from Kesoram Industries in 2016.
As per JK Tyre's filing, JK Tornel will complete the sale of equity in Cavendish Industries by Nov. 30. SMMS Trust is a private trust and does not belong to the promoter, promoter group, or group companies, as per the filing.
JK Tyre's consolidated net profit for the September quarter surged 64% on year to INR 2.21 billion. Revenue from operations for the quarter rose almost 11% on year to INR 40.11 billion. Wednesday, shares of JK Tyre ended over 2% lower at INR 446.60 on the National Stock Exchange. End
Reported by Sunil Raghu
Edited by Rajeev Pai
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