After enjoying positive ride in the first four months of this year on falling raw material costs and revival in auto sales growth, stocks of tyre companies fell in April and May, thanks to slowdown in auto sales and gloomy economic outlook of the country which have dampened sentiments of investors. Stocks of the Indian tyre companies had increased around 30% in the first one-and-a-half months of this year while the Bombay Stock Exchange's Benchmark 30-share Sensex (Sensex Index) spiked by 15% in the same period. However, despite the fall in Sensex Index by around 5% in the period of February 15 to April 10, 2012, tyre companies continued to move northward due to falling raw material costs and continued growth in automobile sales, mainly car sales.
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