 "Apollo Tyres, two-wheelers, heavy vehicles")
Tyre stocks have been major gainers over the last two sessions on falling international rubber prices as well as expectations of more price hikes by tyre companies.
Global rubber prices (Bangkok RSS3) have shed 22 per cent since February 1. In India, the prices have fallen by a similar amount to Rs 164 a kg on higher supplies from Thailand.
Although most tyre companies stand to gain, analysts see more gains for Apollo Tyres.
Rubber accounted for 52 per cent of Apollo’s sales. The impact of raw material costs on margin is reflected in the 239 basis points’ loss in
