Tyre-makers shares rise on rubber import duty cut

Newswire

MUMBAI, Dec 24 (Reuters) - Shares of Indian tyre-makers rose more than 3 percent on Friday after the federal government's decision on Thursday to cut import duty on natural rubber to 7.5 percent for shipments up to 40,000 tonnes until March 31. At 9:18 a.m., shares of Apollo Tyres were trading at 66.1 rupees, up 3.61 percent, Ceat at 136 rupees, up 2.26 percent and MRF at 7,324 rupees, up 1.94 percent in a weak Mumbai Market. (Reporting by Kaustubh Kulkarni; Editing by Sunil Nair)

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