Tyre stocks gain as rubber prices fall

India's tyre stocks gain on hopes of higher margins as the key Tokyo Commodity Exchange rubber contract hit a five-week low on Tuesday, weighed down in part by weak Chinese service sector data.

Ceat gains 2.8 percent, JK Tyre & Industries is up 2.1 percent and Goodyear India advances 1.3 percent.

Apollo Tyres surges 3 percent, helped as well after Credit Suisse upgrades the tyre maker to "outperform" from "underperform," citing the end of talks over its proposed $2.5 billion takeover of Cooper Tire & Rubber Co.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Exchange managements must distinguish between speculation and gambling

    Every bull run in the Indian equity market raises the spectre of excessive speculation.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Zehra Naqvi

The mere display of power is not success

The stars are not afraid to appear like fireflies —Rabindranath Tagore ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture