Tire Stocks Gain on Lower Rubber Prices

        0449 GMT [Dow Jones] Tire stocks gain Wednesday following the decline in rubber prices, the main input material for this industry. Rubber prices in India have fallen by 15% since January to 140 rupees a kilogram. "The price outlook is benign for the next few months on ample supply," says Surjit Arora, analyst with Prabhudas Lilladher. The expectation of a revival in auto demand in the second-half of this financial year is also likely to benefit the industry, he adds. Ceat is up 3.8% at 452.90 rupees, Apollo Tyres gains 3.9% to 180.90 rupees, JK Tyre & Industries is up 1.5% at 235 rupees, while the benchmark index is trading flat. (debi.nayak@wsj.com)
        (END) Dow Jones Newswires

        May 21, 2014 00:49 ET (04:49 GMT)