Most tyre stocks are on buyers’ radar as global rubber prices have hit five-year lows. Domestic rubber prices, too, have fallen over demand concerns leading to a glut scare. There is a sluggish demand from major consumer market like China.
Stocks like Ceat India, Dunlop India, JK Tyre and Industries rallied 3-5 percent intraday on Wednesday.
As per reports, rubber prices have slumped around 30 percent this year and hit five-year lows. Global supply is forecast to exceed demand by 241,000 tonnes in 2014 for a fourth year of glut, according to International Rubber Study Group (IRSG), which ruled out any near-term rebound in prices.
| Company Name | Last Price | Change | % Chg |
| Apollo Tyres | 182.9 | -1.4 | -0.76 |
| Balkrishna Ind | 614.5 | -6.15 | -0.99 |
| Ceat | 442.75 | 10.35 | 2.39 |
| Dunlop India | 9.14 | 0.4 | 4.58 |
| Falcon Tyres | 17.55 | -0.45 | -2.5 |
| Goodyear | 446.6 | 1.55 | 0.35 |
| Govind Rubber | 17 | 0.75 | 4.62 |
| JK Tyre & Ind | 238.65 | 7.5 | 3.24 |
| Krypton | 14.45 | -0.15 | -1.03 |
| Modi Rubber | 19.15 | -0.35 | -1.79 |
| MRF | 23230.6 | 152.45 | 0.66 |
| PTL Enterprises | 33.3 | 2.1 | 6.73 |
| TVS Srichakra | 510 | -4.75 | -0.92 |
– moneycontrol.com
