Shares of five tyre makers rose by 0.38% to 4.38%
at 14:25 IST on BSE as lower rubber prices will boost profitability of
tyre makers.
JK Tyre & Industries (up 4.38%), Dunlop India (up 2%), Apollo Tyres (up 0.87%), CEAT (up 0.58%) and MRF (up 0.38%), edged higher.
The BSE Sensex was down 59.79 points, or 0.32% at 18,733.65.
Rubber futures dropped to the lowest level in more than three weeks in Tokyo on Monday, 22 October 2012, on concern that demand will fall as Japan's exports declined at the fastest pace since last year's post-earthquake slump. Rubber is a key raw material in manufacture of tyres.
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