This surge has prompted leading companies like CEAT and JK Tyres to increase prices in an effort to offset the rising costs.
Industry experts predict that raw material prices will rise by another 56 per cent in the next quarter, although there is hope for stabilisation or even a softening by the third quarter.
Further, industry insiders feel that the current upward trend is likely to persist for the next few months. This could lead to further price adjustments in the tyre market.
Kumar Subbiah, chief financial officer (CFO) of CEAT revealed in order to mitigate costs, it plans to hike prices for certain tyres in the international and replacement market. The company is also expanding presence in the international market.
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Volumes, margins lead to earnings upgrade for Page Industries
Page Industries reported sales growth of 11 percent in Q2FY25 and volume growth of 7 percent year-on-year (Y-o-Y).
With benchmarks becoming harder to beat, avoid very high-cost funds
The Securities and Exchange Board of India (Sebi) has, through a circular dated November 5, mandated that asset management companies must disclose expense ratios for direct and regular plans separately in their half-yearly statements.
Sensex, Nifty fall for 2nd day on FPI selling
Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank, and State Bank of India.
NSE mulls launching new products to bolster commodities market
The National Stock Exchange (NSE) is seeking to expand its commodities segment by launching new products after examining the performance of energy, base metals, and bullion, an official of the domestic equity benchmark said on Friday.
Zinka Logistics sets price band for â¹1,115 cr IPO
Zinka Logistics Solutions Ltd, a digital platform for truck operators, on Friday said it has fixed a price band of â¹259-273 per share for its â¹1,115 crore initial share sale.
Swiggy IPO: QIBs do final-day heavylifting
Issue subscribed 3.6x as institutional investors swoop in on Day 3 to corner 90% bids
Adani Power cuts B'desh supply by more than 60%
Adani Power on Friday further reduced electricity supply to Bangladesh as the company seeks to recover more than $800 million in dues, according to data from Bangladesh's grid operator and two sources.
Beyond the syntax of national culture
This book is not just a masterly exploration of India's linguistic civilisation. More importantly, it serves as a timely warning against recent attempts at conducting the epistemic study of Indian languages through a narrow prism of singularity.
FORENSIC PROBE ALL SET TO BOOST CONVICTION RATE
With Bharatiya Nyaya Sanhita making such investigation mandatory in serious crime cases that attract seven years' imprisonment or above, more and more criminals are likely to be brought to justice in the next five years
'Ek hai toh safe hai': Modi in first rally for Maha polls
Prime Minister Narendra Modi on Friday flagged the Congress' \"caste politics\" and cautioned the nation against it, while also accusing the grand old party of \"playing a dangerous game of pitting one caste against another\" for political gains.
