On Monday, the shares of tyre firms were the subject of attention as Apollo Tyres, Ceat, and JK Tyres all saw intraday gains of up to 9% amid high activity. Expectations of future margin expansion have sparked the rise. Of them, Apollo Tires soared 6% and reached a record high of Rs 312.35, while Ceat increased 5% and reached a new 52-week high.
JK Tyres, on the other hand, rose 9% to Rs 187.65 thanks to a roughly four-fold increase in trade volume. Up to 12:40 PM, 7.39 million equity shares, or 3% of the company's total equity, had exchanged hands on the NSE and BSE. The stock was trading close to the Rs 197.50 mark, the 52-week high reached on September 16. The S&P BSE Sensex, in contrast, was up 0.50 percent at 62,604.
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