Apollo Tyres raises prices by 2-4 pct

Apollo Tyres Ltd has raised product prices across categories by 2-4 percent to offset the surge in cost of rubber. This is with effect from Thursday; the quantum would vary across product lines. Spot price of the most traded RSS-4 (ribbed smoked sheet) rubber has hit a record high of 15,650 rupees in Kottayam, Kerala, as per data compiled by the Rubber Board. Natural rubber makes up over 40 percent of the total cost of a tyre. Further round of price increase was required in coming months to combat the surge in costs. JK Tyre and Industries Ltd. is also planning a price increase in the near term.