JK Tyre Slips for Third Day as Subsidiary Offloads Shares in Cavendish Industries

& Industries remained under pressure for the third straight session, trading 0.57% lower as of 9:45 AM on 20 November 2025. Sentiment softened after its subsidiary, JK Tornel, S.A. de C.V., agreed to sell 40 lakh equity shares of Cavendish Industries to SMMS Trust for ₹130.64 crore. Despite the sale, Cavendish Industries will continue to operate as a subsidiary of JK Tyre, ensuring business continuity. However, the partial stake sale triggered caution among investors, contributing to the ongoing weakness in the stock. Market participants await further clarity on strategic implications and capital deployment following the transaction.