Shares of MRF Limited surged to a fresh all-time high of ₹1,55,445 in Tuesday’s trade, gaining 1.70% or ₹2,595 from the previous close. The company’s market capitalization now stands at ₹65,844 crore.
The rally came after major tyre manufacturers, including MRF and Bridgestone, announced that they will pass on the benefits of the government’s GST rate cut on tyres to customers. The revised pricing took effect on September 22 and covers the entire product portfolio, including both commercial and passenger vehicle categories, according to a report by NDTV.
Bridgestone confirmed that the price adjustments apply to all types of tyres—premium, standard, and specialty—sold in the Indian market. Rajarshi Moitra, Deputy Managing Director of Bridgestone India, said, “This decision by the Government reflects a forward-looking approach to strengthening the automotive ecosystem and we thank the Honourable Prime Minister and the Government for the same. Bridgestone India is proud to pass on the benefit of the GST reduction to our customers, supporting not just affordability but also encouraging sustainable and safer mobility practices.”
The GST rate cut is part of a broader tax reform aimed at making auto components more affordable for consumers. Analysts believe this move will reduce ownership costs for vehicle owners, particularly in tyre replacement and maintenance, and could boost demand in the sector.
