Labels: , on Thursday 5 June 2014

Shares in tyre makers gained 2 to 4 per cent as prices of natural rubber fell to their lowest in 4-1/2 years in the global market.

Apollo Tyres Ltd gained 2 per cent, MRF Ltd was up 2.2 per cent, Ceat Ltd jumped 4.5 per cent, while JK Tyre & Industries Ltd rose 2.1 per cent.

Natural rubber makes up more than 40 per cent of the cost of a tyre, according to analysts.

Indian tyre makers are increasing imports of natural rubber as it is cheaper overseas compared to local supplies.
 

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