Tyre stocks gain; MRF hits record high

MRF, Ceat, Goodyear India, Apollo Tyres, JK Tyre, TVS Srichakra and Balkrishna Ind were up 1%-5%

Shares of tyre manufacturer were in focus with the sector major MRF hitting a record high crossing Rs 55,000 mark on the BSE in intra-day trade.

MRF has rallied nearly 5% to Rs 55,450, also its lifetime high on the BSE in late noon deal. The stock outperformed the market by surging 15% from its recent low of Rs 48,229 on December 26, as compared to 5% rise in the S&P BSE Sensex.

Ceat, Goodyear India, Apollo Tyres, JK Tyre & Industries, Balkrishna Industries and TVS Srichakra were up between 1%-4%, as compared to 1.2% rise in the