Tyre stocks under pressure as rubber prices rise; Ceat hits 52-week low

Shares of tyre makers were trading weak with Ceat hitting a 52-week low of Rs 921, down 4 per cent on the BSE, on concerns of margin pressure due to rise in raw material costs, particularly natural rubber.

MRF, Balkrishna Industries, Goodyear India, JK Tyre & Industries and Apollo Tyres were down in the range of 1 to 2 per cent on the BSE. In comparison, the S&P BSE Sensex was down 0.54 per cent at 39,541 points at 11:19 am.

Natural rubber prices have turned positive after a gap of two years in the domestic market during the first