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Stock Markets Today Live Updates: JK Tyre, MRF, Ceat, Goodyear jump 5 -12% today; what is boosting tyre stocks?
In today’s market update, tyre stocks have surged as manufacturers raise prices by 1.5-2.5% due to rising raw material costs. ICICI Direct Research suggests that these price hikes are necessary to maintain margins in the industry. Emkay has maintained a ‘buy’ rating for JK Tyre with a target price of ₹700/share, citing strong fundamentals in the transportation sector.
This news has led to a significant jump in the stock prices of JK Tyre, MRF, Ceat, and Goodyear, with gains ranging from 5% to 12%. Investors are closely watching these developments in the tyre sector as they navigate the impact of rising raw material costs on company profitability.
Stay tuned for more updates on the market movements and top gainers and losers in today’s trading session. Follow Mint’s market blog for real-time updates on your favorite companies and sectors.
