Apollo Tyres to hike prices in March quarter

Newswire

NEW DELHI, Jan 29 (Reuters) - Apollo Tyres plans to raise tyre prices this quarter to ease pressure on margin due to rising raw material costs, a top official said on Friday. "There is every chance," Chief Financial Officer Sunam Sarkar told Reuters over the telephone. This will be the third round of price hike by the tyre maker that raised prices by 5 percent on Jan. 1 and 3 percent in November. Raw materials account for 70 percent of tyre-making costs. (Reporting by Sanjeev ...

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