Apollo Tyres, CEAT, Balkrishna Industries share prices could fall up to 24% from current levels, cautions technical analysts Kunal Shah of Mirae Asset Sharekhan.
Airlines, tyre and paint stocks tumble as crude surges 9 per cent amid Iran-Israel-US tensions. Shares of IndiGo, SpiceJet, JK Tyre, Asian Paints, Berger Paints slide sharply on Monday
Volume growth of tyre companies remained healthy, supported by robust momentum in both the OEM and replacement segments, along with continued premiumisation, said Ceat management.
Looking ahead, Geojit expects operating performance to continue improving, supported by demand recovery and ongoing cost optimisation efforts
But global uncertainties triggered by US tariffs and geopolitical tensions may put the brakes on, say brokerages
Since December 11, the stock price of JK Tyre has appreciated by 10 per cent after the HDFC Mutual Fund acquired 257,305 equity shares or 0.09 per cent stake in the company via open market purchase.
Neeraj Kanwar says the ₹579-crore India team sponsorship is a long-term brand bet aimed at deeper rural reach, stronger dealer interest and double-digit growth
In Q2, Apollo Tyres consolidated net profit fell 13 per cent at ₹258.04 crore, as compared to ₹297.4 crore a year ago
JK Tyre & Industries, TVS Srichakra, Apollo Tyres and Balkrishna Industries were up in the range of 3 per cent to 8 per cent on the BSE in Monday's intra-day trade.
Among other tyre makers, Balkrishna Industries, Apollo Tyres and Ceat were up 2 per cent to 3 per cent on the BSE in intra-day trade.
Additional spending on brand promotion after becoming the lead sponsor for the Indian cricket team could weigh on margins and profits in short run