Tyre stocks ride ahead the markets as the natural rubber loses its value



The Tyre stocks gained momentum on Mondat as the stocks showcased price and volume action and  they ended the day on a high note.

The momentum gained is majorly on account of anticipation of good set of financial results to be declared by the tyre manufacturing companies and also constant depreciation in the prices of natural rubber being a direct raw material for these companies driving to higher operating margins.

The rubber prices have fallen down from Rs 13,450 per 100 Kg at the beginning of October, 2017 to Rs 12,700 per 100 Kg at the end of October, 2017 i.e by 5.6% during the month of October, 2017 in Kottayam, Kerala.

Apollo tyres on November 1, 2017 posted a decline in net profit by 45.98% to Rs 140.18 crore in the quarter ended September 2017 as against Rs 259.52 crore during the previous quarter ended September 2016. Although, net profit increased by 58.78% as compared to June 2017 quarter from Rs 88.30 crores. Sales rose 11.47% to Rs 3418.01 crore in the quarter ended September 2017 as against Rs 3,066.36 crore during the previous quarter ended September 2016.





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