⚠️CCI have imposed PENALTY on TYRE MANUFACTURERS⚠️

MRF ltd 622.09 Cr
Apollo Tyres 425.53 Cr
JK Tyres 309.95 Cr
CEAT ltd 252.16 Cr
Birla Tyres 178.33 Cr

(CCI - Competition Commission of India)
It is done because they formed a Cartel and indulged in activities like

- Increase in prices
- Control the production and production and supply
They had an association named ATMA on which Penalty of Rs. 0.084 crore was imposed.

(Automotive Tyre Manufacturers Association (ATMA))
The penalty amount is higher than some companies profit figures.

✅Check their cash position on ticker.finology.in/sector/tyres-a…

#stockmarkets #Industry
Do you have any tyre stock in your portfolio?⤵️
Control the production and supply*
Mr Market is also punishing them.

#stockmarkets

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