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<ul><li>Earlier today, a few media houses filed a story stating that CSK has signed a 3-year sponsorship deal with <keyword id="272787" type="General" weightage="80" keywordseo="tvs-srichakra" source="Orion">TVS Srichakra</keyword>.</li><li>However, <keyword id="3134913" type="General" weightage="80" keywordseo="tvs-eurogrip" source="Orion">TVS Eurogrip</keyword> has released a statement denying speculation of signing the sponsorship deal.</li></ul>TVS Eurogrip has denied speculation of signing a 3-year sponsorship deal with <keyword id="13886" type="General" weightage="20" keywordseo="chennai-super-kings" source="Orion">Chennai Super Kings</keyword> (CSK). Media reports stated that TVS Srichakra has signed a 3-year deal valued at approximately Rs 23 crore a year. However, TVS rejected the reports suggesting that it plans to become CSK's principal sponsor in 2022, dismissing the widespread speculation around the details of its deal as 'untrue.' “Please note, there is recent speculation in the media about a CSK-TVS SRICHAKRA association in IPL 2022, we would like to inform that this is not true. We will keep media informed if there is any announcement in the future. Please avoid any kind of speculation at this point of time which will mislead the customers, shareholders, and stakeholders,” TVS Eurogrip said in a statement. CSK is the second-most valued IPL team franchise, according to Duff &amp; Phelps - a Kroll business. Its value in 2020 stood at Rs 611 crore.

TVS Eurogrip denies speculation over signing a Rs 23 crore sponsorship deal with Chennai Super Kings

Chennai, The members of $8.5 billion TVS family on Thursday decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies. The family members heading the group's listed companies like <keyword id="201434" type="DOMAIN" weightage="20" keywordseo="TVS-Motor-Company-Ltd">TVS Motor Company Ltd</keyword>, <keyword id="213623" type="DOMAIN" weightage="20" keywordseo="TVS-Srichakra-Ltd">TVS Srichakra Ltd</keyword>, Wheels India Ltd and others, in an identical letter, have intimated the respective Company Secretaries about the family decision and these were, in turn, filed with the stock exchanges. "With the passage of time, various members of <keyword id="10412982" type="COMPANY" weightage="20" keywordseo="the-tvs-family">the TVS Family</keyword> felt that the ownership of shares in various companies/businesses should align and synchronise with the management of the respective companies, as is currently being done, the regulatory filing said. "Keeping this objective in mind, the members of the TVS Family have today agreed to subscribe to the terms of a memorandum of family arrangement in order to record the terms of the family arrangement so agreed upon," the filing added. Senior nominated members of the family shall now deliberate on how best to further implement this arrangement. According to the TVS family, the new arrangement shall not affect the management and functioning of the companies in any way, and they expect to continue business in ordinary course without impacting any of the stakeholders. "Furthermore, the terms of the family arrangement do not envisage any royalty or brand usage payments from the operating businesses/companies to the TVS family members/their holding companies," the filing states. The present shareholders of the <keyword id="10411768" type="COMPANY" weightage="20" keywordseo="TVS-holding-companies">TVS Holding Companies</keyword> primarily consist of the third and fourth generations of the original founder, T.V. Sundaram Iyengar. The various businesses/entities of <keyword id="5493305" type="COMPANY" weightage="20" keywordseo="The-TVS-Group">the TVS Group</keyword> have been traditionally managed by members of the different branches of the family. The TVS family has been engaged, for more than a century, in a diverse range of businesses through various entities in which the branches of the TVS Family have invested in or through T.V. Sundram Iyengar and Sons Private Ltd, <keyword id="10412983" type="COMPANY" weightage="20" keywordseo="sundaram-industries-private-ltd">Sundaram Industries Private Ltd</keyword> and Southern Roadways Private Ltd - collectively known as TVS Holding Companies. Over the decades, the TVS family has expanded their businesses and the <keyword id="190592" type="COMPANY" weightage="20" keywordseo="TVS-Group">TVS Group</keyword> has grown into a large business conglomerate with interests in several businesses operating in diversified fields, including two-wheeler and automotive component manufacturing, automotive dealerships, distribution of automotive parts, financial services, logistics services, electronics, textiles and needles. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/new-species-are-more-likely-to-emerge-in-extreme-environment-coldspots-rather-than-hotspots-like-the-amazon-rainforest/articleshow/79665428.cms" data-type="tilCustomLink">New species are more likely to emerge in extreme environment ‘coldspots’ rather than ‘hotspots’ like the Amazon rainforest</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms" data-type="tilCustomLink">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a>

$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company

<ul><li><keyword id="8790108" type="General" weightage="80" keywordseo="tvs-supply-chain" source="Orion">TVS Supply Chain</keyword> lists with 5% gains at ₹207.05/share.</li><li>The grey market premium has been falling for the last few days.</li><li>The IPO was subscribed 2.7 times, with good interest from retail investors. </li></ul> TVS Supply Chain has listed on the exchanges at ₹207.05/share versus an issue price of ₹197/share. The market cap of the company is ₹8,820.37 crore as per BSE. The grey market premium has been falling in the last few weeks and as of Wednesday, it has not been expecting any listing gains from the IPO. The IPO was subscribed 2.7 times, with good interest from retail investors. Speaking about the listing, Prashanth Tapse, Senior VP Research Analyst at Mehta Equities said, “With slightly lower demand, we anticipate a listing near 5% +/- the issue price of 197 per share. Our advice: consider selling allotted shares on listing day. Risk-takers might find value in TVS Supply Chain's asset-light strategy, global services, and post-GST growth potential for organised logistics.” The non-institutional investor portion of the IPO was also subscribed 2.35 times while the Qualified Institutional Buyer (QIB) portion was subscribed 1.35 times, on Monday. Retail investor portion was subscribed 7.6 times the shares on offer. The company fixed the price band for the IPO at ₹187-₹197 per equity share. The offer was made through a book building process wherein not less than 75% was to be available for allocation on a proportionate basis to QIBs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.61 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.78 </td></tr></tbody></table> Source: BSE Integrated supply chain solutions provider The company is an integrated supply chain solutions provider, which calls itself a multinational based in India. Its business is divided into two segments — integrated supply chain solutions (ISCS); and network solutions. Under ISCS segment, it sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, finished goods, aftermarket fulfilment and supply chain consulting. Its network solutions include global forwarding solutions which involves managing end-to-end freight forwarding and distribution across ocean, air and land, warehousing and at port storage and value added services, and time critical final mile solutions and more. It provided these solutions to 8,788 global customers and 902 customers in FY23. Its customers span across numerous industries such as automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare. As of March 31, 2023, it has managed 22 million square feet of logistics warehouse space. Some of its customers include Daimler India, Sony India, Hyundai Motor, TVS Srichakra, TVS Motor, Panasonic Life Solutions, Hero MotoCorp, Modicare, Ashok Leyland, Yamaha Motor and Torrot Electric. In FY23, it carried 2,074 tons of air freight and 32,720 TEUs (twenty foot equivalent units) of sea freight in India.

TVS Supply Chain lists at 5% premium beating grey market expectations

<ul><li>Retail investor portion of the IPO was subscribed 7.6 times over the shares on offer.</li><li>The institutional investor portion was also fully subscribed on the last day of the IPO. </li><li>The net proceeds from the fresh issue will be used for prepayment or repayment of outstanding borrowings, and towards general corporate purposes. </li></ul>The <keyword id="13134157" type="General" weightage="20" keywordseo="tvs-supply-chain-ipo" source="Orion">TVS Supply Chain IPO</keyword> was subscribed 2.7 times on the last day of the issue, with good interest from retail investors. The non-institutional investor portion of the IPO was also subscribed 2.35 times while the Qualified Institutional Buyer (QIB) portion was subscribed 1.35 times, on Monday. Retail investor portion was subscribed 7.6 times the shares on offer. The company fixed the price band for the IPO at ₹187-₹197 per equity share. The offer was made through a book building process wherein not less than 75% was to be available for allocation on a proportionate basis to QIBs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.61 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.78 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE About the company The company is an integrated supply chain solutions provider, which calls itself a multinational based in India. Its business is divided into two segments — integrated supply chain solutions (ISCS); and network solutions. Under ISCS segment, it sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, finished goods, aftermarket fulfilment and supply chain consulting. Its network solutions include global forwarding solutions which involves managing end-to-end freight forwarding and distribution across ocean, air and land, warehousing and at port storage and value added services, and time critical final mile solutions and more. It provided these solutions to 8,788 global customers and 902 customers in FY23. Its customers span across numerous industries such as automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare. As of March 31, 2023, it has managed 22 million square feet of logistics warehouse space. Some of its customers include Daimler India, Sony India, Hyundai Motor, TVS Srichakra, TVS Motor, Panasonic Life Solutions, Hero MotoCorp, Modicare, Ashok Leyland, Yamaha Motor and Torrot Electric. In FY23, it carried 2,074 tons of air freight and 32,720 TEUs (twenty foot equivalent units) of sea freight in India. Financials &amp; risk factors The company’s revenues have been consistently growing in the last three years, and in the recently concluded financial years, it has been able to post profits after reducing its losses over two years. Elucidating its risks, the company said that in the last three years, around 73% of its revenue was denominated in foreign currencies, along with an average of 73.8% of its borrowings. It is exposed to exchange rate fluctuations, which can impact its operations. It’s subject to multiple and complex legal and regulatory requirements as its operations are spread across 26 countries. Failure to comply with the laws and regulations can adversely impact its business. Freight, clearing, forwarding and handling charges, and manpower expenses constitute a significant portion of our operating expenses and any increase due to any internal or external factors may adversely affect our business, financial condition, results of operations and cash flows, the company said in its RHP.

TVS Supply Chain IPO 2.78 times on the last day of the offer

<ul><li>The issue opens on August 10 and closes on August 14. </li><li>The lot size is fixed at a minimum of 76 equity shares and in multiples of the same thereafter. </li><li>The issue is a mix of a fresh issue to the tune of ₹600 crore, an offer for sale. </li><li>The net proceeds from the fresh issue will be used for prepayment or repayment of outstanding borrowings, and towards general corporate purposes. </li></ul><keyword id="8790108" type="General" weightage="20" keywordseo="tvs-supply-chain" source="Orion">TVS Supply Chain</keyword> will open its public offer on August 10 and close on August 14. The company has fixed the price band for the IPO at ₹187-₹197 per equity share. Bids can be made for a minimum of 76 equity shares and in multiples of 76 equity shares thereafter. The issue is a mix of a fresh issue and an offer for sale. The fresh issue intends to raise as much as ₹600 crore and the proceeds from this portion will be used for prepayment or repayment of outstanding borrowings, and towards general corporate purposes. Investors such as Omega TC Holdings, Tata Capital Financial Services, Kotak Special Situations Fund, as well as TVS Motor Company will sell shares as a part of the offer. The offer is being made through a book building process wherein not less than 75% shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs). The book running lead managers may allocate up to 60% of the QIB portion to anchor investors on a discretionary basis, the company. JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Nuvama Wealth Management and Equirus Capital are the book running lead managers of the issue. About the company The company is an integrated supply chain solutions provider, which calls itself a multinational based in India. Its business is divided into two segments — integrated supply chain solutions (ISCS); and network solutions. Under ISCS segment, it sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, finished goods, aftermarket fulfilment and supply chain consulting. Its network solutions include global forwarding solutions which involves managing end-to-end freight forwarding and distribution across ocean, air and land, warehousing and at port storage and value added services, and time critical final mile solutions and more. It provided these solutions to 8,788 global customers and 902 customers in FY23. Its customers span across numerous industries such as automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare. As of March 31, 2023, it has managed 22 million square feet of logistics warehouse space. Some of its customers include Daimler India, Sony India, Hyundai Motor, TVS Srichakra, TVS Motor, Panasonic Life Solutions, Hero MotoCorp, Modicare, Ashok Leyland, Yamaha Motor and Torrot Electric. In FY23, it carried 2,074 tons of air freight and 32,720 TEUs (twenty foot equivalent units) of sea freight in India. Financials &amp; risk factors The company’s revenues have been consistently growing in the last three years, and in the recently concluded financial years, it has been able to post profits after reducing its losses over two years. “We incurred losses in these periods due to macroeconomic headwinds, labour strike at one of our largest automotive customer plants outside India which began with the walkout of a large number of workers at various of our customers plants and lasted for about six weeks,” the company said in its red herring prospectus. It added that the costs related to the integration of acquisitions, legal costs, costs of exiting certain contracts which were commercially not optimal, foreign exchange volatility, debt refinancing, and the Covid-19 pandemic as some of the reasons for the losses. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,235 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,249 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,933 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restated net profit/loss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41.7 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(₹45.8 crore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(₹76.3) </td></tr></tbody></table>Source: RHP Elucidating its risks, the company said that in the last three years, around 73% of its revenue was denominated in foreign currencies, along with an average of 73.8% of its borrowings. It is exposed to exchange rate fluctuations, which can impact its operations. It’s subject to multiple and complex legal and regulatory requirements as its operations are spread across 26 countries. Failure to comply with the laws and regulations can adversely impact its business. Freight, clearing, forwarding and handling charges, and manpower expenses constitute a significant portion of our operating expenses and any increase due to any internal or external factors may adversely affect our business, financial condition, results of operations and cash flows, the company said in its RHP. The business is dependent on its ability to utilise our logistics infrastructure in an uninterrupted manner. Any disruption or delays can have a material adverse effect on the business. Its operations are significantly dependent on network partners and third parties for warehousing and transportation needs, which can have an adverse effect on its business. “Any increase in the operating costs of network partners or other third parties may have a direct impact on our operations and profitability,” the company said. Its promoters and certain directors, key managerial personnel and senior management have interests in the company other than their normal remuneration or benefits. There are two criminal and 22 tax proceedings against the company. Its promoters have one criminal and 65 tax proceedings against them.

TVS Supply Chain IPO to open on August 10, price band fixed at ₹187-₹197

Tyre stocks were on fire in the futures and options space as the continued drop in global rubber prices, their main raw material, augured well for their earnings in the coming quarters.
 <keyword id="6355500" type="COMPANY" weightage="100" keywordseo="Ceat">Ceat</keyword>, <keyword id="6404070" type="COMPANY" weightage="100" keywordseo="MRF">MRF</keyword> and <keyword id="46602" type="PERSON" weightage="100" keywordseo="Apollo-Tyres">Apollo Tyres</keyword> were among the top quartile of the gainers' list thanks to a 22 percent drop in global prices for Rubber sinceJune 1st.

	Quarterly earnings from major companies such as Ceat and MRF has shown a sharp jump in operating margin due to lower costs. However, MRF is on record to say that such margin expansion will be difficult to maintain.
 

	Tyres stocks in the cash market were buzzing as well, hence, TVS Srichakra, Modi Rubber, Dunlop and Goodyear and Balkrishna Industries rocketed in trade on the Bombay Stock Exchange.
 

	Meanwhile, here is a look at prices:
 

	TVS Srichakra jumped 11.4 percent to 2,873 rupees.

	Ceat surged 5.7 percent to 979 rupees. Open Interest leapt 14.5 percent.

	Modi Rubber gained 4.9 percent to 35.25 rupees.

	MRF was up 4.5 percent to 44,450 rupees. Open Interest rose 15.4 percent

	GoodYear gained 3.2 percent to 643.75 rupees.

	and Apollo Tyres rose 2.2 percent to 211.80 rupees. Open Interest was up 4.3 percent. 
	 
	Image credit: Indiatimes

Tyre stocks are on fire today. Know why

Apollo Tyres led other tyre makers higher in trade today on expectations that the sector's raw material costs may come down a bit as crude oil prices slumped to 3-month lows in global markets. 
 
Tyre companies use intermediates such as synthetic rubber which are derived from crude oil's cracking. Therefore, a fall in crude oil prices is beneficial for such companies. Such raw materials constitute up to 50 percent of costs for Tyre makers. They lead the gainers list on the automobile and auto-ancillary space as well. 
 
Apollo Tyres surged 3.9 percent to 178.90 rupees. Ceat added 2 percent to 713.50 rupees. MRF rose 1.5% to 35,335 rupees. Goodyear gained 1.3 percent to 566 rupees and TVS Srichakra was up 2.5 percent to 2,321 rupees. 
 (Image credit: <keyword id="37644" type="COMPANY" weightage="80" keywordseo="Indiatimes">Indiatimes</keyword>)

Apollo, Ceat and MRF
are riding high on low crude prices

Traders ramped up <keyword id="507430" type="UNKNOWN" weightage="80" keywordseo="tyre-stocks">Tyre stocks</keyword> to fresh 3 months highs after sector giant Ceat Ltd. reported a strong performance for its first quarter earnings. 
 
Ceat said its first quarter net profit jumped 134 percent to 121 crore rupees compared with the year ago quarter. Sales for the same period remained flat at `1,456 crore rupees. Ceat said its Operating margin expanded to 15.9 percent during the April-June quarter compared with 9 percent a year ago because input costs such as synthetic rubber fell sharply. 
 
A better product mix also contributed to higher margins at Ceat. 
 
As a consequence, Ceat gained 3.5 percent to 809 rupees. TVS Srichakra surged 8.6 percent at 2,425 rupees. MRF jumped 4.5 percent 38,121 rupees. JK Tyres added 3.7 percent at 100 rupees. Dunlop India added 3.5 percent at 13.5 rupees and Apollo Tyres added 1.5 percent to quote at 197 rupees. 
 
A global drop in commodity prices have helped an expansion of margins in such companies over the past one year. 
 
(Image credit: Indiatimes)

Tyre stocks are surging. Know why

Stocks ended lower on the markets today as traders took advantage of the early morning uptick to book profit in leading blue chips. 
 The <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> closed 35 points lower at 28,171 after hitting an intra-day high of 28,330 in the first 10 minutes of trade. Vedanta, NTPC and Hero Motor Co were the top losers. 
 The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword>, meanwhile, ended at at 8,510, losing 11 points over its previous close. HCL Tech, Vedanta and NTPC were the top losers on the Index where the Advance-Decline Ratio was 1:2. The only saving grace was that the Nifty closed above the crucial 8,500-point level. 
 
Among the other indices showing a smart uptrend were the CNX Banking index and the CNX Mid Cap index. Traders were particularly bullish on public sector banking stocks: Punjab National Bank, Indian Overseas Bank and Bank of Baroda were the top gainers in the futures and options space. 
 
L&amp;T Finance Holdings surged more than 9 percent after the Economic Times reported American Private Equity Investor Warburg Pincus was in talks to pick up a 25 percent stake in the non banking finance company, which lends mainly to the real estate and the commercial vehicles space. 
 
Companies which use Crude Oil intermediates as their raw material inputs saw their stock prices react positively to a fall in crude oil price to 3-month lows. Asian Paints, Berger Paints, Kansai Nerolac and Akzo Nobel showed strong traction. Ditto for tyre companies such as TVS Srichakra, Apollo Tyres, J K Tyres, Ceat and MRF. 
 
Tea stocks were in favour after tea auction prices gained ground in Kolkata following news of drought in key producer Kenya. McLeod Russell, Jayshree Tea, Rossell Tea shone brightly in trade today. 
 
(Image credit: Indiatimes)

You Searched For "tvs srichakra" and got 9 results

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