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Tyre stocks have deflated on auto woes, time to accumulate?

March 05, 2020 / 06:01 PM IST
Tyre stocks have deflated on auto woes, time to accumulate?

Tyre companies have posted a decent performance in Q3 despite demand getting affected by weak demand for automobiles. Though sales remain largely muted, the operating profitability of companies such as CEAT (CMP: Rs 995, Mcap: Rs 4,085 crore), Apollo Tyres (CMP: Rs 141.75, Mcap: Rs 8,108 crore) and MRF (CMP: Rs 66,063 Mcap: Rs 28,700 crore) has improved due to the significant decline in raw material (RM) prices. Concerns over demand from OEMs (original equipment manufacturers) have kept sentiment subdued for tyre companies,...

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