Balkrishna Industries earmarks Rs 3,500 crore to enter India's consumer tyre market, targeting a 2.2x rise in revenue by FY30 under its Vision 2030 strategy.
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.
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.
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.