Tyre Maker News Today

India Business News: BENGALURU: MRF on Friday posted decline in its fourth-quarter on Friday, primarily due to the surge in rubber prices.

Carlstar Group: Carlstar is a global manufacturer and distributor of specialty tires and wheels for a variety of end-market verticals including outdoor power equipment, power sports, trailers, and small to midsize agricultural and construction equipment, the company said.

Continental: ContiConnect Lite is a simple and free-of-charge gateway to selected ContiConnect functionality via smartphone. The new app version is also available for digital tire monitoring for agricultural tyres, earthmoving tyres and port operation tyres, the company said.

Tolins Tyres: The company may consider raising INR 25 crore in a Pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced.

Michelin, the worlds top tyre maker, on Monday posted record operating profits as a focus on premium products, including for SUVs, helped it survive an otherwise lacklustre year. Sales of premium and big tyres, in particular for SUVs, helped improve the companys performance, as did a drop in costs for raw materials from peaks hit in 2022.

MRF, the countrys top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around USD 61 mln) from 1.69 billion rupees.

Jk Tyre & Industries: Along with the mainstream tyres, the Delhi-based company is also running a fleet operating management business and a mobility business vertical.

Michelin: The United States and Britain launched a series of strikes on Yemen last week, aimed at the Iran-backed Houthi militia, whose attacks on international shipping have disrupted one of the worlds most important routes since December.

According to the block deal data available with the BSE, White Iris Investment sold a total of 2,85,79,542 shares, representing a 4.49 % stake in Apollo Tyres. The shares were disposed of at an average price of INR 448.35 apiece, taking the combined deal size to INR 1,281.36 crore.

Tvs Eurogrip: Tyres for a wide range of applications like soil compactors, skid steer loaders, backhoe loaders, industrial tractors, wheel loaders, dump trucks, motor graders were showcased at the show, the company said.