With recent import curbs issued by the government and low input costs, we expect JK Tyres to benefit in the near-term. Hence, we upgrade our rating to Accumulate with a TP of Rs.73 based on 10x FY22E adj. EPS. Quarter sees decline in revenue Revenue from operations declined 33.7% YoY to Rs. 1,795cr in Q4FY20. The weak demand in the domestic market was further impacted by the COVID situation and led to a slump in domestic sales by 32.4% YoY to Rs. 1,635cr. Global auto markets also witnessed slowdown with revenue from Mexico down 36.2% YoY to Rs. 200cr in Q4....