UPDATE 1-India's Apollo plans tyre price hike mid-June

Newswire

(Updates with quotes, details) By Arif Sharif NEW DELHI, May 26 (Reuters) - Apollo Tyres Ltd , India's second-biggest tyremaker, expects to increase product prices by the middle of June and is cutting costs to offset a sharp rise in raw material prices, an official said on Wednesday. Apollo and other Indian tyremakers have been hurt in the past year by a steep rise in the price of natural rubber, their main raw material, which has traced a rising global trend. Prices of other ...

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