Business Standard

Page 2 - Tyre industry

Pass fresh order; review fines to save domestic tyre industry: NCLAT to CCI

Appellate tribunal NCLAT has directed the Competition Commission to pass a fresh order in the matter of alleged cartelisation by tyre companies, citing the need to re-examine arithmetical and inadvertent errors as well as to review the penalty to save the domestic tyre industry. The National Company Law Appellate Tribunal's (NCLAT) order dated December 1 has come on a batch of appeals filed by the tyre makers against the ruling by the Competition Commission of India (CCI) back in August 2018. The CCI had imposed penalties totalling more than Rs 1,788 crore on the tyre companies. In its 166-page order, the tribunal has remanded back all cases for review to CCI and also directed the regulator to pass a fresh order "after hearing the parties". The regulator should also "consider reviewing the penalty to save domestic industry" in view of the fact that it is under a lot of pressure from global tyre manufacturing companies where a lot of unutilised capacity is available, as per the ...

Pass fresh order; review fines to save domestic tyre industry: NCLAT to CCI
Updated On : 02 Dec 2022 | 8:39 PM IST

Better grip on future for tyre stocks: Tread on easing input cost, demand

Higher raw material prices had punctured sequential margins of major tyremakers

Better grip on future for tyre stocks: Tread on easing input cost, demand
Updated On : 28 Nov 2022 | 6:10 AM IST

Tyremaker MRF misses Sep-qtr profit estimates as input costs weigh

Tyre manufacturer MRF Ltd missed second-quarter profit estimates on Tuesday, as soaring input costs and supply chain issues weighed, offsetting a rise in revenue

Tyremaker MRF misses Sep-qtr profit estimates as input costs weigh
Updated On : 08 Nov 2022 | 10:27 PM IST

Ceat spurts ahead on demand recovery and margin expansion hopes

Stock of tyre maker was up 20% on Thursday

Ceat spurts ahead on demand recovery and margin expansion hopes
Updated On : 15 Sep 2022 | 10:45 PM IST

Tyre makers' capital expenditure to rise to Rs 5,000 cr in FY23: CRISIL

The report is based on the analysis of the top six domestic tyre makers, who account for 80 per cent of the Rs 75,000 crore of the sector, CRISIL said

Tyre makers' capital expenditure to rise to Rs 5,000 cr in FY23: CRISIL
Updated On : 11 May 2022 | 3:05 PM IST

JK Tyre brings puncture guard technology in tyres for four-wheelers

JK Tyre & Industries on Thursday said it has come up with the country's first puncture guard technology in tyres for four-wheelers. The technology, with specially engineered self-healing elastomer inner coat, applied inside the tyres through an automated process, heals the punctures. The company plans to build in the technology in its range of tyres for four-wheelers. With this technology, tyres can self-repair multiple punctures, due to nails or other sharp objects, up to 6 mm in the tread area instantly, the tyre maker said in a statement. Puncture guard tyre offers hassle-free ride throughout the life of the tyre, without air loss, it added. "With the introduction of Smart tyre technology in 2020 and now the Puncture Guard Tyre technology, we have yet again delivered on our commitment to provide advanced mobility solutions to our customers. This technology offers high level of safety and convenience to vehicle owners," JK Tyre Chairman & Managing Director Raghupati ...

JK Tyre brings puncture guard technology in tyres for four-wheelers
Updated On : 24 Mar 2022 | 5:22 PM IST

Balkrishna Industries: Margin outlook weighs on near term prospects

Balkrishna Industries: Volume constraints and valuations are the other concerns

Balkrishna Industries: Margin outlook weighs on near term prospects
Updated On : 17 Feb 2022 | 9:52 PM IST

Improving demand, peak capex to trigger linear growth in tyre industry

Improving demand along with stable competitive intensity, and peak capex is expected to trigger linear growth for the Indian Tyre industry

Improving demand, peak capex to trigger linear growth in tyre industry
Updated On : 24 Jul 2021 | 12:16 PM IST

Demand recovery key to Apollo Tyres' aggressive $5 billion revenue target

Street will watch out for capital allocation, deleveraging progress

Demand recovery key to Apollo Tyres' aggressive $5 billion revenue target
Updated On : 30 Jun 2021 | 12:05 AM IST

Tyre industry seeks raw material partners to unleash growth

India's tyre sector is seeking effective collaboration with raw material partners to harness its potential, industry body Automotive Tyre Manufacturers Association (ATMA) said.

Tyre industry seeks raw material partners to unleash growth
Updated On : 26 Jun 2021 | 2:52 PM IST

JK Tyre to spend Rs 200 crore in next two years to enhance production

The firm reduced net debt by Rs 929 crore in FY21

JK Tyre to spend Rs 200 crore in next two years to enhance production
Updated On : 14 Jun 2021 | 4:49 PM IST

JK Tyre posts consolidated profit after tax of Rs 194 cr for March quarter

Revenue from operations in the quarter under review rose by 63.21 per cent to Rs 2,927.28 crore compared to Rs 1,792.56 crore in Q4FY20

JK Tyre posts consolidated profit after tax of Rs 194 cr for March quarter
Updated On : 19 May 2021 | 9:38 PM IST

Apollo launches new range of tyres for compact SUV segment

Apollo Tyres on Tuesday said it has launched a new range of tyres for the fast growing compact SUV segment. The company said it has launched Apterra Cross tyres in the country after two years of extensive testing and tuning. This is the first dedicated range of tyres that caters to the compact SUV segment, the hottest selling segment of the decade, in the Indian automotive industry, Apollo Tyres said in a statement. As per industry estimate, the CSUV (Compact SUV) tyre market in the country is pegged around four lakh tyres per month, and is soon expected to double. "The rise of the compact SUV segment, priced affordably, has reinvigorated the dream of owning an SUV in the Indian market, and we being the segment creators in the tyre space, are looking at leveraging on this opportunity with a dedicated range of tyres for this growing segment," Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said. The company has the first mover advantage with Apollo

Apollo launches new range of tyres for compact SUV segment
Updated On : 16 Mar 2021 | 7:46 PM IST

MRF profit grows 116% to Rs 511.72 cr in Dec quarter, revenue rises 14%

The company's stock, which was trading at around Rs 97,000 on Thursday morning, dropped to Rs 94,428.10 (at 12.55 p.m) after the results were announced

MRF profit grows 116% to Rs 511.72 cr in Dec quarter, revenue rises 14%
Updated On : 11 Feb 2021 | 1:21 PM IST

High valuation and margin concern may limit rally in Apollo Tyres

Healthy volume outlook, focus on debt reduction are key positives, say analysts

High valuation and margin concern may limit rally in Apollo Tyres
Updated On : 04 Feb 2021 | 11:13 PM IST

French tyre major Michelin to hike prices in India by 8% from March

The move is in order to offset the impact of rise in input costs

French tyre major Michelin to hike prices in India by 8% from March
Updated On : 02 Feb 2021 | 2:41 PM IST

Commerce min for extension of anti-dumping duty on carbon black

The move is with a view to guard domestic players from cheap imports

Commerce min for extension of anti-dumping duty on carbon black
Updated On : 25 Dec 2020 | 5:17 PM IST

OEM recovery, robust replacement demand to boost Apollo Tyres revenues

Price hikes to offset some of the the surge in raw material costs

OEM recovery, robust replacement demand to boost Apollo Tyres revenues
Updated On : 17 Dec 2020 | 12:33 AM IST

Tyre makers cautious on outlook even as capacity utiliisation improves

Factors helping capacity utilisation include encouraging domestic replacement demand in passenger vehicles, two-wheelers and the farm segment, and a drop in imports

Tyre makers cautious on outlook even as capacity utiliisation improves
Updated On : 02 Oct 2020 | 10:59 PM IST

Off-highway tyre-maker ATG to invest Rs 1,240 cr in 3rd plant at Vizag

Off-highway tyre-maker Alliance Tire Group (ATG), owned by the Japanese major Yokohama Group, is setting up its third plant in the country in Visakhapatnam with an investment of USD 165 million (around Rs 1,240 crore). The proposed USD 165-million plant will add over 20,000 tonnes per annum (55 tonne per day rubber weight) capacity to the 2.3-lakh-tonne annual production from two India plants and will be commissioned by the first quarter of 2023. The plant will generate around over 600 new jobs, adding to its 5,500-strong headcount, Nitin Mantri, chairman of Yokohama India and director of ATG, told PTI on Sunday. ATG has one plant at Dahej in Gujarat with an annual capacity of 1.3 lakh tonne (360 tonne per day) and another at Tirunelveli in Tamil Nadu with an annual capacity of 1 lakh tonne. The group has a 45,000-tonne plant in Israel as well where it has its main R&D centre as well. The TN facility also has an R&D centre. These two plants produce all the three key ...

Off-highway tyre-maker ATG to invest Rs 1,240 cr in 3rd plant at Vizag
Updated On : 13 Sep 2020 | 5:10 PM IST