India’s top tyre makers bleed on high world rubber prices
Shares of major tyre manufacturing companies on Wednesday fell up to 5 per cent amid higher international prices of natural rubber.
Shares of Ceat plunged 4.21 per cent to close at Rs 1,153.45 apiece on the BSE. During the trading session, the stock had dived 4.74 per cent to intra-day low of Rs 1,147.10. MRF settled at Rs 48,840.20, down 1.97 per cent from its previous close. In intra-day trade, the share had dived 2.05% to Rs 48,800 on BSE.
Apollo Tyres ended the trading session at Rs 192.05 on the BSE, down 1.87 per cent from previous close. The scrip of JK Tyre settled at Rs 112, down 0.62 per cent on BSE. However, Govind Rubber and TVS Srichakra settled in the green. Govind Rubber settled 2.42 per cent up at Rs 23.25 on BSE, while TVS Srichakra ended at Rs 3,196.95, up 0.16 per cent.