Tyre stocks jump as government imposes additional duty on tyre imports from china

NEW DELHI: Most tyre stocks were trading with gains in Tuesday's session after the government announced the imposition of additional duty on tyres imported from China.

As per a report by Reuters, the Indian government has imposed countervailing duty on new pneumatic radial tyres imported from China for five years.

Around 12 pm, shares of JK Tyre & Industries were trading with a gain of 4.33 per cent, while those of Ceat were up 3.16 per cent.


Shares of Balkrishna Industries (up 3.06 per cent), MRF (up 2.33 per cent) and Apollo Tyres (up 1.08 per cent), too, logged decent gains.

Broader Sensex and Nifty were marginally up around that time on gains in select heavyweights, including RIL, HDFC, NTPC and Axis Bank.