Where is JKTYRE headed?

JK Tyre is a fundamentally good stock but the share price has seen a minor decline and has been stagnant for a few weeks. The company has seen a good profit growth from 65 crores profit in 2021 to peak profits of 249 crores in 2023. But profits have also come down to 140 crores in 2024. Promoter holding has come down by more than 2.5% in the last quarter but it stands at a decent proportion of 50% as of today. This is a mid-cap stock and still has room for future growth What do you think about the company? Is the share price overvalued? Is it a good time to accumulate some shares when the current price is almost near the 52 week low?