Tyre shares extend gain; MRF, TVS Srichakra up over 8%

Shares of tyre companies were trading higher for the third straight trading session on expectation of an improvement in pricing power due decline in Chinese imports and falling rubber prices. MRF and TVS Srichakra rallied more than 8% each, while Goodyear India, JK Tyre & Industries, Balkrishna Industries, Ceat and Apollo Tyres were up 3% to 7% on the BSE. On comparison, the S&P BSE Sensex was down 0.03% at 29,429 at 01:07 pm. MRF hit a record high of Rs 57,959, up 9% on BSE in intra-day trade. Financial Astrology Tips



In past three-trading sessions, all these stock have outperformed the market by surging up to 13% against 1.7% rise in the benchmark index. However, thus far in calendar year, except Balkrishna Industries (up 19%), the remaining tyre stocks had underperformed the market by gaining less than S&P BSE Sensex, which up 8.6% till March 8, 2017. According to analysts at Phillip Capital said Chinese factories have nearly stopped catering to the demand from Indian importers after the US international trade commission determined that the US tyre industry hasn’t been materially injured by imports of truck and bus radial (TBR) tyres from China. Astrology and Numerology Trading Tips