InvestorQ : Why have tyre companies like Balkrishna, Apollo and MRF been rallying so hard on 22 September?
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Why have tyre companies like Balkrishna, Apollo and MRF been rallying so hard on 22 September?

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Tisha Malhotra answered.
3 months ago
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On Thursday, most of the tyre companies including Apollo, BKT, JK Tyres and MRF rallied by over 5%, despite auto output slowing down due to the chip shortage. The answer lies in the expected record Kharif output that has triggered strong demand for tyres from the agricultural sector. Additionally, the export demand for tyres is also up sharply. Margins were under pressure due to rising input costs, but are expected to recover to old levels.

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