UPDATE 1-Indian cos reduce tyre prices to match duty cut

Newswire

(Recasts, adds Ceat statement, shares) NEW DELHI, Feb 24 (Reuters) - Two Indian tyremakers said they will reduce prices by 2 percent, passing on the excise duty cut announced by the finance minister on Tuesday. India cut the exise duty on a range of products to 8 percent from 10 percent, to help stimulate demand and shore up the flagging economy. Apollo Tyres Ltd said it will reduce prices by 2 percent, following cuts in factory gate taxes by the government on Tuesday. The new prices ...

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