5 Best Tyre Stocks to invest in 2024

Published : 03 June 2024

Balkrishna Industries

It is one of the largest players in the off-highway tyre market. It is currently trading at around Rs. 3050 with an ROCE of 20.48% and an ROE of 16.61%. Its OPM is 21.92%. 

CEAT

The company produces rubber tyres and tubes for two-wheelers, three-wheelers, and more. Its share price is around Rs. 2391.55. Its ROCE, ROE, and OPM are 20.54%, 15.89%, and 9.73%, respectively. 

JK Tyre & Industries

The company makes different types of tyres including smart tyres and different types of puncture guards. It is trading at around Rs. 408.20 at present with ROCE and ROE of 20.04% and 17.52% while the OPM is noted at 11.23%. 

Apollo Tyres

The company was established in 1972 and has been a renowned player in the industry.  It is trading around Rs. 475 with an ROCE of 15.68% and an ROE of 12.38%. Its OPM is around 12.30%.  

MRF

The company is known as the biggest player in the Indian tyre market. Its shares are trading at around Rs. 127000 at present with ROCE and ROE of 16.40% and 12.46% while the OPM is noted at 12.47%.