MARKET EYE-Tyre makers rally on fall in rubber prices

Wed Dec 5, 2012 12:13pm IST

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* Shares of tyre makers including Apollo Tyres gained
tracking a fall in the price of key raw material rubber, which
constitutes nearly 40 percent of the tyre production cost.
* Rubber futures have fallen 6.4 percent in previous
five trading sessions.
* Apollo Tyres is up 2.13 percent, Ceat Tyres gains 2.4 percent,
MRF adds 4 percent, while JK Tyres & Industries
 rises 2.8 percent.
* Rubber's peak production season has started in December and
will continue till February. Carry forward stock of imports with
tyre companies have risen after a drop in vehicle sales.

 (manoj.dharra@thomsonreuters.com/siddesh.mayenkar@thomsonreuter
s.com)
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