Tyre stocks pick up speed in early trade on Monday
DSIJ Intelligence / 07 Aug 2017
Tyre stocks witnessed increasing momentum in the early trade on August 7 on the back of talks between DGAD and the Ministry of Finance for levying anti-dumping duty on cheap imports.
Tyre stocks witnessed increasing momentum in the early trade on August 7 on the back of talks between DGAD and the Ministry of Finance for levying anti-dumping duty on cheap imports.
Tyre stocks, namely, Apollo Tyres traded higher by 4.36% at Rs 273.8 per share, JK Tyre Industries traded higher by 2.62% at Rs 164.25 per share, Ceat Ltd. traded higher by 2.77% at Rs 1,782.05 per share and MRF traded higher by 1.5% at Rs 67,387.85 per share.
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 soon.
At 0933 hours, the BSE Auto index traded higher by 0.68% at the 24,968 levels. Maruti Limited was contributing majorly to index gains and pushing it to higher levels.
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