Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Price hikes may partially cushion tyre firms' margins
Business Standard
|July 17, 2024
Shares rally for 2nd consecutive day
Shares of tyre companies rallied for a second consecutive day on Tuesday, with most of the big players registering cumulative gains of up to 6 per cent over the past two days.
Apollo Tyres clocked 6 per cent gains followed by JK Tyre at 4.7 per cent and Ceat at 3.8 per cent. MRF made cumulative gains of 2.7 per cent. MRF has reportedly increased rates of its truck tyres by 2 per cent, while prices of passenger car and radial tyres were increased by 3-7 per cent. There was no hike in the prices of two-wheelers as of yet, according to a CNBC TV18 report.
Last month, media reports stated that domestic tyre companies undertook a price hike of 1-2.5 per cent with effect from July 1, in response to rise in key raw material prices (primarily natural rubber).
The price rise comes as a relief for the domestic tyre industry amidst unprecedented rise in natural rubber prices at around 200 per kg (11-year-high), ICICI Securities had said in a note.
This story is from the July 17, 2024 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Exim cargo at India's ports fell by 2% in April
With the West Asia war choking the vital Strait of Hormuz, India’s ports — both state-owned and private — reported a near 2 per cent year-on-year (Y-o-Y) drop in international maritime cargo during April, led by decreased volumes in crude oil, fertilisers, and coal.
2 mins
May 25, 2026
Business Standard
‘1st micro-LED screen rollout in 22 months’
With the government deploying most of the ₹76,000 crore earmarked under the Indian Semiconductor Mission, Minister of Electronics and Information Technology Ashwini Vaishnaw, tells Surajeet Das Gupta in an email interview that this year many projects on micro-LED (light emission diode) panels and micro chips will start. Edited excerpts.
3 mins
May 25, 2026
Business Standard
New theatre command would be unique: CDS
General Chauhan says plan sees India's geography as an entity, looks beyond
3 mins
May 25, 2026
Business Standard
ICICI Bank seeks ₹100 cr recovery from fintechs
Growing discomfort among banks over eroding interchange income
3 mins
May 25, 2026
Business Standard
'India has responsibilities both in continental & maritime domains'
Chief of the Defence Staff (CDS) General Anil Chauhan said the integrated theatre command plan he has proposed to the government takes into consideration India’s strategic challenges on land and opportunities in water. In an interview with Satarupa Bhattacharjya in New Delhi on May 21, the CDS also spoke about Operation Sindoor, the India-China border and India’s defence budget. Edited excerpts:
6 mins
May 25, 2026
Business Standard
ECLGS 5.0 finds traction as MSMEs look for buffer
Bankers are seeing early traction under the Ministry of Micro, Small and Medium Enterprises (MSME) credit support scheme Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, with a steady rise in enquiries and applications from small businesses, although lenders cautioned that it was too early to gauge the eventual outcome.
2 mins
May 25, 2026
Business Standard
India’s extreme heat spell giving parametric insurance a longer season
Rising temperatures and climate change are driving demand for parametric insurance cover, as heatwaves and erratic weather increasingly affect livelihoods, productivity and health, according to insurance industry experts.
2 mins
May 25, 2026
Business Standard
Transport snags at Mundra, Nhava Sheva expose weak links in logistics chain
The recent cargo movement disruptions at Nhava Sheva and Mundra should not be treated as something routine. It is a warning that India’s export-import logistics can be unsettled by weaknesses away from the ports.
2 mins
May 25, 2026
Business Standard
Noel, Chandra break ice ahead of board meet
The chairmen of Tata Trusts and Tata Sons — Noel Tata and N Chandrasekaran—are learnt to have met during the weekend, putting an end to a three-month long communication logjam between the two amid dissonance within Tata Trusts.
2 mins
May 25, 2026
Business Standard
Students rethink overseas study plans amid ₹ slide
Deferred study plans, shrinking interest in high-cost degrees, and a growing exit from traditional study destinations — these are some of the responses emerging among Indian students as the rupee’s slide makes overseas education significantly more expensive.
3 mins
May 25, 2026
Listen
Translate
Change font size