Tyre stocks in focus; Balkrishna Ind rallies 9%, hits fresh record high

Apollo Tyres, Ceat, MRF and JK Tyre were up 3 per cent to 7 per cent on the BSE, as compared to 1.3 per cent rise in the S&P BSE Sensex at 12:20 pm

Shares of tyre manufactures were in focus with Balkrishna Industries surging 9 per cent to hit a record high of Rs 1,481 on the BSE on Monday on the back of heavy volumes. Optimism was seen on the counter on expectation of healthy demand and margin outlook. The stock surpassed its previous high of Rs 1,467.80 touched on August 29, 2018.

Balkrishna Industries Limited (BIL) is engaged in the business of manufacturing and selling of Off-Highway Tyres (OHT) in the specialist segments such as agricultural industrial and construction earthmovers and port mining forestry lawn and garden and All Terrain Vehicles (ATV).

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