 "Tyre stocks gain; MRF hits record high")
Shares of tyre manufacturer were in focus with the sector major MRF hitting a record high crossing Rs 55,000 mark on the BSE in intra-day trade.
MRF has rallied nearly 5% to Rs 55,450, also its lifetime high on the BSE in late noon deal. The stock outperformed the market by surging 15% from its recent low of Rs 48,229 on December 26, as compared to 5% rise in the S&P BSE Sensex.
Ceat, Goodyear India, Apollo Tyres, JK Tyre & Industries, Balkrishna Industries and TVS Srichakra were up between 1%-4%, as compared to 1.2% rise in the benchmark index.
According to industry representatives, Chinese tyre sales, which rose by about 40% in the Indian replacement market between April and October 2016, saw a de-growth of around 17% after the note ban, the Business Standard report suggests. CLICK HERE FOR FULL REPORT
MRF has rallied nearly 5% to Rs 55,450, also its lifetime high on the BSE in late noon deal. The stock outperformed the market by surging 15% from its recent low of Rs 48,229 on December 26, as compared to 5% rise in the S&P BSE Sensex.
Ceat, Goodyear India, Apollo Tyres, JK Tyre & Industries, Balkrishna Industries and TVS Srichakra were up between 1%-4%, as compared to 1.2% rise in the benchmark index.
According to industry representatives, Chinese tyre sales, which rose by about 40% in the Indian replacement market between April and October 2016, saw a de-growth of around 17% after the note ban, the Business Standard report suggests. CLICK HERE FOR FULL REPORT
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| GOVIND RUBBER | 26.20 | 23.55 | 11.25 |
| MRF | 55397.95 | 53001.15 | 4.52 |
| JK TYRE & INDUST | 124.70 | 120.75 | 3.27 |
| KRYPTON INDS. | 14.98 | 14.60 | 2.60 |
| MODI RUBBER | 44.30 | 43.25 | 2.43 |
| PTL ENTERPRISES | 143.40 | 140.00 | 2.43 |
| BALKRISHNA INDS | 1107.00 | 1087.00 | 1.84 |
| CEAT | 1234.65 | 1217.30 | 1.43 |
| APOLLO TYRES | 197.15 | 194.65 | 1.28 |
| GOODYEAR INDIA | 743.15 | 735.30 | 1.07 |
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