Zacks upgraded shares of Goodyear Tire & Rubber Co from a hold rating to a buy rating in a research note released on Monday morning. They currently have US$32.00 target price on the stock. Zacks’ analyst wrote, “Goodyear’s first-quarter 2015 adjusted earnings…
Category: Industry News
Import duty hike, dragon effect push up natural rubber price
Close on the heels of finance minister Arun Jaitley’s announcement of raising the customs duty on natural rubber (NR), price of NR in the domestic market has perked up a tad. In the last five days, the price of RSS-4…
HEXPOL: Interim Report January-March 2015
Sales rose 38 per cent to 2,951 MSEK (2,131). Operating profit increased 36 per cent to 495 MSEK (364). Operating margin amounted to 16.8 per cent (17.1). Profit after tax increased 34 per cent to 352 MSEK (262). Earnings per…
Indian Tyre industry to benefit from improving auto demand, lower raw material costs
The Indian tyre industry has been witnessing tremendous growth for the past few years on account of growth in automobiles demand, especially in passenger vehicles and two-wheeler segments. In fact, availability of raw material (natural rubber) and ultramodern production facilities…
Acquisition of Leeser by Semperit finalised
Semperit A.G. Holding has completed the acquisition of rubber seal manufacturer Lesser GmbH & Co. K.G. to strengthen the firm’s Semperform business. Antitrust authorities approved the deal April 29. Together, Semperform and Lesser give the operation a future-oriented portfolio in…
Rubber bounces back
After cooling off for more than a year, natural rubber prices are showing some signs of life. Prices at the Kottayam and Kochi markets in Kerala, the largest rubber producing State in the country, have firmed up to ?125-135 a…
Delphi Automotive PLC Shares Gap Up
Delphi Automotive PLC shares gapped up before the market opened on Friday following a stronger than expected earnings report, AmericanBankingNews.com reports. The stock had previously closed at US$82.99, but opened at US$83.00. Delphi Automotive PLC shares last traded at US$83.63, with a…
Goodyear Tire & Rubber Co Price target boosts to US$31.00 (GT)
Goodyear Tire & Rubber Co had its price objective set by Deutsche Bank from US$28.00 to US$31.00 in a report released on Thursday. Deutsche Bank currently has a hold rating on the stock. A number of other analysts have also…
Price of Indian rubber hiked up 25 %
In a bid to protect local rubber growers, the Indian government has hiked up the price of rubber by 25 %. India’s rubber imports touched an all-time high of 4.15 lakh tonnes in 2014-15 owing to lower international prices and…
Continental launches 19.5-inch tyres for city buses
Tyre manufacturer Continental has added a 19.5-inch tyre to its range of urban bus tyres, which promises an increased service life of up to 20%. The Conti Urban HA3 265/70 R19.5 all-axle tyre has been designed for use on medium-sized…