Amid price hike reports, shares of tyre companies rally for second day

According to media reports, domestic tyre companies have undertaken a price hike in response to a rise in key raw material prices (primarily natural rubber).

Shares of tyre companies rallied for the second consecutive day on Tuesday, with most of the biggest players registering cumulative gains of up to 6 per cent over the last two days.

Apollo Tyres clocked 6 per cent gains followed by JK Tyre at 4.7 per cent and Ceat at