![\"Tyre](\"https:\/\/www.tyremarket.com\/tyremantra\/wp-content\/uploads\/2016\/09\/graph-36929_1280-Cropped-e1472731634394.png\")
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India\u2019s leading tyre manufacturer, MRF Tyres has hit a 52-week low of Rs 31,005 in the intra-day trade on the Bombay Stock Exchange (BSE) listing, while other tyre makers too witnessed a dip in their share trading. Ceat Tyres Ltd., MRF, JK Tyres, Apollo Tyres, Balkrishna Industries and TVS Srichakra saw a fall of up to 2 percent against the 0.28 percent rise in the S&P BSE Sensex, this was recorded at 11:21 AM.<\/p>\n
In the last two months nearly all the major tyre manufacturers had to face a decline in the market with a drop of 8 percent each compared to a 3.3 percent increase in the benchmark index. In this period, Ceat saw a downfall of 29 percent, MRF and Apollo went to a low of 15 percent each and TVS Srichakra recorded a plunge of 9 percent.<\/p>\n
Tyre making companies are continuously under fire, with respect to tyre exports, due to rupee depreciation, growing radialisation and cut-throat Chinese competition.<\/p>\n
An expert at the Anand Rathi Share and Stock Brokers, Mr. Mayur Milak thinks that these issues will continue in the first half of 2017 fiscal, therefore, the export numbers will continue to diminish further. Even so, they are expecting a larger replacement demand from the market and a better monsoon together with a recovery in the rural economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
India\u2019s leading tyre manufacturer, MRF Tyres has hit a 52-week low of Rs 31,005 in the intra-day trade on the Bombay Stock Exchange (BSE)…<\/p>\n","protected":false},"author":4,"featured_media":951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[333,334,77,335,424,390,332,228],"class_list":["post-950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apollo-tyres","tag-ceat-tyres","tag-jk-tyres","tag-mrf","tag-mrf-sensex-2016","tag-tyre-industry-news","tag-tyre-industry-sensex","tag-tyre-manufacturers"],"yoast_head":"\r\n