JK Tyre Industries has announced that it will be increasing the price of its products very soon. The price rise will be in the range of 3-4 per cent and will most probably happen with start of June itself.

In another plan, it said that the company will be investing Rs. 930 crore in the manufacturing plant in Chennai. The total production of the plant will be 29 lakh units per annum and will take care of the new radial tyre manufacturing.

Meanwhile, talking about the price rise, Managing Director Raghupati Singhania said that the company was forced to take the step since the raw material costs have gone up, especially rubber.

It should be noted that it had already raised the price by 5 per cent in January this year.

As for the expectations from the current fiscal, Arun K Bajoria, President of JK Tyres said that they expect the revenues to go up by 30-35 per cent. But because of raw material cost this rise may be subject to changes as well.

The price of natural rubber has gone up by 40 per cent.