A mixed bag of fortunes for Indian tyre majors

摘要

In spite of rise in automobile sales and fall in NR price, stocks of many tyre companies were hit by media reports that they were under the radar of Competition Commission of India It has been a mixed bag of fortunes for Indian tyres companies. Despite increase in passenger car sales and a sharp fall in natural rubber prices, shares of major Indian tyre companies such as MRF and Goodyear India failed to gain momentum on the bourses. However, stocks of other tyre majors like Apollo Tyres, JK Tyres and BKT made significant gains.