Tyre stocks in focus; JK, TVS Srichakra, Ceat, Apollo rally up to 13%

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Tyre stocks in focus; JK, TVS Srichakra, Ceat, Apollo rally up to 13% - Business Standard

Quick Summary:

According to media reports, domestic tyre companies have undertaken a price hike in response to a rise in key raw material prices (primarily natural rubber).

Industry body the Society for Indian Automobile Manufacturers (SIAM) expects a 3 to 5 per cent growth in financial year 2025.

The domestic NR availability is inadequate and industry is making efforts to enlarge plantation in the North Eastern states to encourage enhanced domestic production, JK Tyre said in its FY24 annual report.