Apollo Tyres plunges on cartelisation probe

SHARES of Apollo Tyres , India’s largest tyre manufacturer, tanked over 3.5% as CNBC-TV18 reported quoting sources that the Competition Commission of India (CCI) has been probing five big tyre companies for cartelisation. Sources say, competition panel decision on tyre companies’ cartel will be announced in 3-4 days.
NW18 reported that CCI has issued notice to 17 auto companies for misuse of position.(Source: CNBC