Market Now: Tyre stocks mixed; Apollo Tyres, MRF trade with mild gains

NEW DELHI: Tyre stocks were trading mixed during afternoon trade on Monday amid fluctuating global rubber price.

Shares of INNOVATIVE (up 2.67 per cent), PTL Enterprises (up 1.46 per cent), TVS Srichakra (up 1.18 per cent), Oriental Carbon & Chemicals (up 0.70 per cent), Apollo Tyres (up 0.26 per cent) and MRF (up 0.22 per cent) were trading with gains around 1:40 pm (IST) on Monday.

On the other hand, shares of Phillips Carbon (down 1.74 per cent), J K Tyre & Industries (down 1.31 per cent), Balkrishna Industries (down 0.79 per cent) and CEAT (down 0.29 per cent) were down around the same time.


Rubber prices have stayed steady in India in the past two weeks, unlike in the international markets where the rates have fluctuated, due to subdued demand even as the supply has gone down, ET reported.

Equity benchmarks were trading in the green, backed by gains in metal, auto, bank, financial and telecom stocks.

The NSE Nifty50 index was trading 86 points up at 10,577, while the 30-share BSE Sensex was 286 points up at 34,428 around the same time.

Among the 50 stocks in the Nifty50 index, 40 were in the green, while 10 were in the red.

Indian Oil Corporation, Tata Motors, IndusInd Bank and Maruti Suzuki India were among the top gainers in the Nifty pack.

On the other hand, Sun Pharmaceutical Industries, Wipro, Infosys, Tata Consultancy Services, Tech Mahindra, Bharti Airtel and ITC were among the losers in the Nifty50 index.