Tyre stocks in focus; JK Tyre, Ceat, TVS, Goodyear rally up to 12%

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Tyre stocks in focus; JK Tyre, Ceat, TVS, Goodyear rally up to 12% - Business Standard

Quick Summary:

Balkrishna Industries said in its FY24 annual report said that there has been a notable increase in demand for vehicles globally, which provide growth opportunities for tire industry.

This price hike in our view, however, does not fully cover the recent rise in raw material (RM) costs, ICICI Securities said in a note.

Meanwhile, Emkay Global Financial Services reiterates 'Buy' rating on JK Tyre & Industries with a target price of Rs 700 per share.