Tyre stocks in focus; Balkrishna Ind at record high, Apollo Tyres jumps 5%

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021

Shares of tyre companies were in focus in Wednesday's session, with most of the frontline stocks trading higher by up to 5 per cent on the expectation of improvement in demand. Among individual stocks, Apollo Tyres, Balrishna Industries, JK Tyre, MRF and Ceat were up between 3 per cent and 5 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.18 per cent at 59,111 points at 10:38 am.

Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade. The stock surpassed its previous high of Rs