Six tyre stocks surged 3.29% to 8.29% at 15:18 IST on BSE amid declining domestic rubber prices.
CEAT (up 8.29% at Rs 797.95), Apollo Tyres (up 6.31% at Rs 204), MRF (up 5.46% at Rs 32,699), JK Tyre & Industries (up 4.8% at Rs 489.30), Falcon Tyres (up 3.7% at Rs 21) and Goodyear India (up 3.29% at Rs 659.80) edged higher.
Meanwhile, the S&P BSE Sensex was up 31.01 points or 0.12% at 26,628.12.
As per reports, rubber price, which ruled around Rs 220 per kg in January 2011, has now touched a low of Rs 123 per kg in the domestic market due to lower demand for the commodity in the wake of general economic slowdown and lower price in international market. Decline in rubber prices could boost profit margin of tyre firms. Rubber is a key raw material in tyre manufacturing.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app