India's tyre stocks gain on hopes of higher margins as the key Tokyo Commodity Exchange rubber contract hit a five-week low on Tuesday, weighed down in part by weak Chinese service sector data.
Ceat gained 2.8 percent, JK Tyre & Industries was up 2.1 percent and Goodyear India advanced 1.3 percent.
Apollo Tyres surged 3 percent, helped as well after Credit Suisse upgrades the tyre maker to "outperform" from "underperform," citing the end of talks over its proposed $2.5 billion takeover of Cooper Tire & Rubber Co.
Copyright: Thomson Reuters 2014
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