Tyre maker Ceat to stick to marginal price hikes

Newswire

MUMBAI, Dec 24 (Reuters) - Ceat Ltd , India's fourth largest tyre maker, plans to continue 1-2 percent price hikes of its tyres having decided big price increases unfeasible, a senior official told Reuters on Friday. High prices of natural rubber has played havoc with profit margins of tyre makers with domestic rubber prices jumping nearly 50 percent so far this year. On Thursday India cut import duty on natural rubber to 7.5 percent from 20 percent for shipments up to 40,000 tonnes ...

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