India's MRF hits record high on auto demand surge

JK Tyre & Industries

23/09/2025 08:37

** Shares of tyre maker MRF MRF.NS up 1.8% to a record 155,670 rupees

** Auto dealers saw increased footfalls as buyers thronged dealerships in large numbers on Monday to buy vehicles with lower price tags under the new GST regime, PTI reports, citing Federation of Automobile Dealers Association (FADA) President C S Vigneshwar

** Increased vehicle demand positive for tyre manufacturers; rivals CEAT CEAT.NS, JK Tyre JKIN.NS up 0.6%, 0.8% respectively

** Separately, MRF says Tamil Nadu plant partially active despite some workers' strike

** Avg rating of 10 analysts is "hold"; median PT is 133,282 rupees - data compiled by LSEG

** YTD, MRF up 17% vs CEAT's 7% gain vs JKIN's 3% fall vs Nifty Auto's .NIFTYAUTO 20% advance

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))