Stocks to Watch Today: Bandhan Bank, BoB, Eicher Motors, Escorts, REC, SBI, Tech Mahindra and UCO Bank are likely to be in focus ahead of Q4 results; Delhivery and Venus Pipes IPOs close on Friday.
One of the sources said the case was related to an antitrust investigation into the use of unfair trade practices and rigging of bids while supplying tyres for public transport vehicles in Haryana
Price hikes to pass on the costs will be difficult amid falling volumes
The CCI on Wednesday said Supreme Court dismissed a petition filed by tyre companies wherein they had challenged the regulator's order imposing penalties on them for anti-competitive practices
In August 2018, the watchdog had imposed a total fine of more than Rs 1,788 crore on Apollo Tyres, MRF, CEAT, Birla Tyres, JK Tyre and Industries and Automotive Tyre Manufacturers Association (ATMA)
Stocks breaching 200-DMA may see aggravated selling pressure in coming sessions.
The management said the company is witnessing muted demand in the replacement segment due to tepid consumer sentiment, higher fuel prices and a softer uptick in India's rural markets.
In a Q&A, the chairman of Apollo Tyres sees multiple growth triggers for the domestic industry ahead, but notes that relentless commodity inflation is the biggest pain point for companies