Tyre stocks lose traction in spite of proposal to impose anti dumping duty

Shital Jibhe / 04 Aug 2017

Tyre stocks lose traction in spite of proposal to impose anti dumping duty

The Directorate General of Anti-Dumping and Allied Duties (DGAD) is in talks with the Ministry of Finance for the imposition of anti-dumping duty on truck and bus radial tyres (TBR) imports from China.

The Directorate General of Anti-Dumping and Allied Duties (DGAD) is in talks with the Ministry of Finance for the imposition of anti-dumping duty on truck and bus radial tyres (TBR) imports from China. The authority has submitted a report to the ministry which will take the final decision.
 
Meanwhile, on the bourses tyre stocks witnessed slip in trade. Tyre stocks, namely Apollo Tyres traded lower by 2.10% at Rs 265.20 per share, JK Tyre Industries traded lower by 1.50% at Rs 161.30 per share, CEAT Ltd. traded lower by 6.44% at Rs 1,779.75 per share and MRF traded lower by 1.41% at Rs 68,200 per share.
 
At 1010 hours, the BSE Auto index traded lower by 0.01% at the 24,618 level. Mahindra and Mahindra is contributing majorly to the index losses and dragging it downwards.

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