scorecardresearchTyre stocks are on a bull run due to a surge in demand and drop in crude prices

Tyre stocks are on a bull run due to a surge in demand and drop in crude prices

Updated: 09 Sep 2022, 02:20 PM IST
TL;DR.
In Thursday's trade, Apollo Tyres set a new 52-week high of 279.8 on the BSE. The stock gained 10.50% in the last week to 278.15 from 251.70. Similarly, Ceat's stock has increased 44 percent in the last three months. JK Tyre, on the other hand, increased 10.87 percent in the last week.
To offset rising input cost pressure, companies raised prices multiple times in the previous fiscal year. And this fiscal year, with optimism about demand growth. Major tyre companies have already raised prices and are considering additional rate hikes to alleviate the RM cost pressure. 

To offset rising input cost pressure, companies raised prices multiple times in the previous fiscal year. And this fiscal year, with optimism about demand growth. Major tyre companies have already raised prices and are considering additional rate hikes to alleviate the RM cost pressure.