Tuesday, 26 April 2011
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Tyre Stocks Rally Since Modi Deal, May Not Sustain In India
Shares of Indian tyre companies have gained by three to 13 per cent after German tyremaker Continental AG agreed to buy Modi Rubber's unit last week. Since the Continental-Modi Tyres deal last Monday (Apr 25) for an undisclosed amount, shares of Modi Rubber have rallied nearly 20 per cent. Other tyre stocks like MRF (up 12.1 per cent), Apollo Tyres (up 7.3 per cent), Balkrishna Industries (up
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