Tyre makers gain as Shanghai rubber futures plunge

Last Updated: Wed, Nov 30, 2016 12:11 hrs
Tyres (Reuters image)

** Indian tyre makers rally as Shanghai rubber futures slump

** JK Tyre & Industries Ltd rises as much as 5.3 pct, Ceat Ltd up as much as 4.6 pct, Apollo Tyres Ltd rises up to 4.07 pct, while MRF Ltd gains as much as 2.6 pct

** Analyst says tyre firms also benefit as demonetisation could hit tyre imports

** For the week, Ceat is up 9.3 pct, Apollo up 5 pct, JK Tyre gained 3.3 pct, while MRF rises 6.9 pct

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