Tyre Stocks Gain on Declining Rubber Prices

Tyre stocks have been buzzing with gains in the Friday’s trading session. Tyre stocks are in upward trend for the past few months. Declining rubber prices and crude oil prices have buoyed the investors sentiments.

The most expensive stock on the bourse, MRF Limited is the eye-catcher in this segment. The stock is trading higher by around 1.8% at Rs 72,295 per share. It is the top gainer in the tyre stocks. CEAT Limited is also trading over 1% at Rs 1,910 per share.

Also, the top-line and bottom line revenue numbers of the tyre companies like MRF, JK Tyre, CEAT and Balkrishna Industries Limited have grown at a healthy pace during the past few quarters. This is also one of the major reason why investors have been choosing tyre stocks to pump in their investments.