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
Apollo Tyres stock is likely to trade with a favourable bias as long as it holds above ₹460 levels. On the upside, the stock can potentially rally up to 14%, suggests the technical chart.
At 9:25 AM, Apollo Tyres share price was trading 0.85 per cent higher at ₹490.95 per share. In comparison, BSE Sensex was trading 0.29 per cent higher at 82,623.34 levels.
Markets edged higher and gained over half a percent, supported by optimism surrounding the GST Council meeting.
Kotak Institutional Equities believes multiple government initiatives, including potential Goods and Services Tax (GST) cuts, will drive auto demand
Tyre stocks rallied today on expectation that the recent correction in raw material prices will benefit the companies favourably from the latter part of Q2FY26
Tyre stocks outlook: After a weak performance in FY25 - largely due to a sharp rise in input costs; analysts expect margins to gradually revive, aided by softening costs and focus on premiumization.
Analysts cite rural demand and the ongoing marriage season as key drivers supporting two-wheeler and tractor volumes, while subdued consumer sentiment and conversion delays are likely to weigh on PV &