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Smallcap firm Modi Rubber added 4.98% or Rs 3.75 to close at Rs 79.10. There were pending buy orders of 26,272 shares, with no sellers available. The total traded volumes were of 1,802 shares. The share rose 39.64% in last 7 days.
What's brewing at Modi?
German tyremaker Continental AG is acquiring Modi Rubber's tyre unit, Modi Tyres Company Ltd, Continental said on Monday.
Post-acquisition, Modi Tyres will become a subsidiary of Continental, the world's fourth-largest tyre manufacturer with group sales of 26 billion euros in 2010, subject to certain statutory government approvals.
Continental, which also deals in components, powertrains, chassis and ancillary services, plans to expand the tyre business in India and will introduce new technology and products for the local market.
Peer Comparison:
| Company | Last Price (Rs) | Market Cap (Rs in Cr) | Sales Turnover (Rs in Cr) | PAT (Rs in Cr) |
| Apollo Tyres | 66.75 | 3364.37 | 5036.8 | 414.99 |
| MRF | 6621.85 | 2808.42 | 7463.74 | 353.98 |
| Balkrishna Ind | 131.3 | 1269.13 | 1394.3 | 208.73 |
| JK Tyre & Ind | 99.9 | 410.18 | 3691.64 | 163.47 |
| Ceat | 108 | 369.83 | 2830.61 | 161.03 |
| TVS Srichakra | 298 | 228.18 | 706.39 | 29.82 |
| PTL Enterprises | 29.5 | 195.26 | 25 | 2.97 |
| Elgi Rubber | 8.85 | 94.7 | 62.01 | 4.25 |
| Modi Rubber | 79.1 | 198.07 | 18.37 | 17.06 |
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