India's Apollo plans tyre price hike mid-June


NEW DELHI, May 26 (Reuters) - Apollo Tyres Ltd, India's second-biggest tyre maker, expects to increase product prices by the middle of June and is cutting costs to offset rising raw material costs, an official told Reuters on Wednesday. "The combination of these two, we think, will give us better margins than last year," Sunam Sarkar, Apollo's head of strategy and business operations, said. "Margins in quarter one this year will be better than quarter four." Sarkar said he expected the ...

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