Tyre maker, J.K Tyre and Industries today said sighted that prices of various categories of tyres may shoot up by 5-7%. The news was confirmed by the company in an interview withCNBCTV18.
Current rubber prices are around 130-140/kg. The company noted that the rubber prices have doubled in the last 6 months.
On its expansion plans the company noted that it is planning to expand global foot print and on its acquisition front it noted that it was always on the look out for acquisition plans but added that nothing had been affirmed as of yet.
Shares of the company declined Rs 1.8, or 1.1%, to trade at Rs 161.50. The total volume of shares traded was 159,949 at the BSE (11.01 a.m., Thursday).
(myiris.com)
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