Leading global tyre makers such as Bridgestone, Michelin and Goodyear have committed investments worth over Rs 1,100 crore in India after the DPIIT temporarily allowed them to import certain tyres to the country, an official said. The official said that the import restrictions on 'New Pneumatic Tyres' were relaxed for certain global players that were interested in importing specific tyres from their factories abroad into India. The imports were temporarily permitted by the department for promotion of industry and internal trade (DPIIT) subject to the concerned company's commitment to invest and set up or expand its manufacturing facilities in the country for the concerned products, in a time-bound manner. "This initiative has witnessed investment commitments worth more than Rs 1,100 crore from leading global players like Bridgestone, Michelin and Goodyear for the development/expansion of their tyre manufacturing capacity in India," the official said. Additional applications receive
Goodyear India's net loss stood at Rs 4.2 crore in the March quarter of financial year 2024 (Q4FY24), as opposed to net profit of Rs 33.6 crore in the same quarter a year ago (Q4FY23)
The Indian unit of U.S.-based Goodyear Tire's standalone net loss stood at Rs 4.21 crore ($506,606.34) for the three months to March 31 from a profit of Rs 33.61 crore a year earlier
Q4 FY24 company results: Elgi Equipments, Natco Pharma, Nalco, Goodyear India, and IFB Ind will be releasing their fourth quarter report on May 27
Poor monsoons have made commercial vehicles such as tractors less affordable for India's rural population, hurting automakers and auto-ancillary companies
Rubber prices, a key raw material for the tyre industry, have fallen by about 20%-25% over the last year through May, according to HDFC Securities
The company's consolidated revenue from operation rose by 9.19 per cent to Rs 653 crore for the March quarter as compared to Rs 598 crore in the year-ago period
The company said it's grappling with inflation in areas such as wages and benefits, countering the benefit from a decline in raw material costs
Tyre maker Goodyear India on Thursday reported over threefold jump in its profit after tax (PAT) to Rs 43.22 crore for the March 2021 quarter.
Two of the biggest remaining American tire companies are joining forces
The record date has been set at December 15, 2020 for the dividend
JK Tyre was trading over 8 per cent higher after the company reported a strong operational performance for the September quarter.
The stock surged 10% to Rs 860, also its new high on BSE, after the Goldman Sachs bought 123,895 shares via open market.