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E-mail ID will not be published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

  • The world is moving away from fast food like never before

    Despite spending $1.8 billion every year on worldwide advertising and promotion, McDonald’s sales are plummeting.

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

Urs Schoettli

It’s time for Japan to step out of its shell

The execution of a Japanese hostage by ISIS has sho­cked ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Bubbles Sabharwal

Truth about truth

The question to ponder is, “is it the truth because ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture