Tyre stocks were buzzing on the bourses as markets neared closing hours of Wednesday’s trade.
Tyres stocks namely, Apollo Tyres was trading up by 3.57% at Rs 272.40 per share, Balkrishna Industries rose 2.04% at Rs 1,561.85, MRF was up 2.68% at Rs 65,497.75, TVS Srichakra was up by 2.51% at Rs 3,385 and Goodyear India was up by 1.23% at Rs 829.05 per share.
The rally in tyre stocks can be attributed to the anti dumping duty of up to USD 452.33 per tonne to be levied on a certain variety of Chinese pneumatic radial tyres to guard domestic players from cheap imports.
A country imposes anti-dumping duties to guard domestic industry from surge in below-cost imports. Anti-dumping steps are taken to ensure fair trade and provide a level-playing field to the domestic industry..
Tyres stocks namely, Apollo Tyres was trading up by 3.57% at Rs 272.40 per share, Balkrishna Industries rose 2.04% at Rs 1,561.85, MRF was up 2.68% at Rs 65,497.75, TVS Srichakra was up by 2.51% at Rs 3,385 and Goodyear India was up by 1.23% at Rs 829.05 per share.
The rally in tyre stocks can be attributed to the anti dumping duty of up to USD 452.33 per tonne to be levied on a certain variety of Chinese pneumatic radial tyres to guard domestic players from cheap imports.
A country imposes anti-dumping duties to guard domestic industry from surge in below-cost imports. Anti-dumping steps are taken to ensure fair trade and provide a level-playing field to the domestic industry..
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