The share prices of India’s leading tyre companies surged in value on Good Friday prior to the Easter weekend. Overall shares of Indian tyre companies shot up by up to 17 per cent, accompanied by heavy volumes reportedly due to “expectations of higher revenue growth during the current fiscal”, according to local news sources. Apollo Tyres, Ceat, Goodyear India, JK Tyre Industries, Balkrishna Industries and TVS Srichakra all rose by between 4 and 17 per cent each on the Bombay Stock Exchange (BSE) during Friday’s trading.
(India/Rubber Asia) Goodyear India is quietly getting into the news again. After years of lack-lustre performance, the company is making rapid strides in select segments and is charting out aggressive growth strategies. Antonio M.Capellini, chairman and managing director of Goodyear India, has reason to be happy. Despite severe competition from multinational and local brands, the company has carved out a niche market for itself. In the OTR tyre segment it’s the market leader in the country. With an 18 per cent market share in the passenger car radial segment, it is the only tyre company in the country approved by all car manufacturers for OEM supplies.