Indian tyre stocks slump as Middle East war drives oil prices higher

JK Tyre & Industries

02/03/2026 04:39

** Shares of JK Tyre and Industries JKIN.NS, CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS fall between 2% and 3.8%

** Key raw materials such as synthetic rubber (25-30% of raw material cost), carbon black (20%), and other derivatives are all linked to crude oil

** Oil prices surge as Middle East war continues, investors push into safe-haven assets

** Brent [LCOc1] jumps 9% to $79.42 a barrel

** Brent crude expected to average US$80–85/bbl for quarter, assuming conflict lasts that long - Antique Stock Broking

** Says tyre sector faces a secondary order earnings impact

** YTD, as of last close, JKIN down 0.3%, APLO loses 9.2%, MRF falls 7.8% CEAT sinks 7.4%

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))