Tyre makers speed up on fall in rubber prices

Six tyre companies’ shares rose 2.65% to 11.50% on the BSE on fall in rubber prices.At 11.12 am, JK Tyre & Industries up 11.50%, Dunlop India up 7.79%, CEAT up 6.01%, Goodyear India up 4.62%, MRF up 4.14% and Apollo Tyres up 2.65%.The fall in rubber prices on Monday (March 14, 2011) to Rs185 per kilogram from Rs201 last week benefited the domestic tyre manufacturers like Apollo, Ceat and JK Tyres among others.A fall of over Rs16 per kilogram in a day will help companies improve their operating profit margins in the first and second quarter of next financial year.