Shares of six tyres makers rose by 0.41% to 7.05% at 13:05 IST on BSE as price of key raw material declines.
CEAT (up 7.05%), Falcon Tyres (up 5%), JK Tyre & Industries (up 4.07%), Apollo Tyres (up 3.61%), MRF (up 0.68%) and Dunlop India (up 0.41%), edged higher.
The S&P BSE Sensex was up 140.81 points, or 0.50% at 28,050.87.
Natural rubber prices in the local market are reportedly hovering near five-year low. This will help boost profit margins for tyre makers. Natural rubber is the main raw material in the manufacture of tyres.
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