Tyre stks in focus; JK Tyre, TVS Srichakra gain up to 10% in a weak market

DGFT, vide its June 12 notification, has placed import of major tyre categories in the 'restricted' category from the 'free' category earlier.

Shares of tyre makers were trading higher in an otherwise weak market with JK Tyres, TVS Srichakra, Ceat and Apollo Tyres gaining up to 10 per cent on the BSE in the intra-day trade on Monday.

At 01:46 pm, these stocks were up in the range of 2 per cent to 6 per cent, as compared to 2 per cent decline in the S&P BSE Sensex. However, MRF and Balkrishna Industries were trading flat, after gaining 3 per cent and 2 per cent, respectively, in the intra-day deals on the BSE.

Among the individual stocks, JK Tyre surged 10 per cent to