Technical charts suggests that Ramkrishna Forgings, Balkrishna Industries and KIMS can potentially rally up to 16 per cent from present levels; check key support, resistance levels here
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).
Balkrishna Industries said in its FY24 annual report said that there has been a notable increase in demand for vehicles globally, which provide growth opportunities for tire industry.
Exports and market share gains have helped the company to pull ahead
Auto, tyre stock update: Shares of auto and tyre makers rallied up to 5 per cent in intra-day deals on Tuesday, lifting the Nifty Auto index to a new all-time high on upbeat outlook.