Apollo Tyres gains on unveiling tentative investment plans

Apollo Tyres Ltd. | Tyres & Allied | Automobiles | BSE: 500877 | NSE: APOLLOTYRE

29 Nov 2012 Evaluate

Apollo Tyres is currently trading at Rs 83.85, up by 0.35 points or 0.42% from its previous closing of Rs 83.50 on the BSE.

The scrip opened at day’s high of Rs 84.50 and touched a low of Rs Rs 83.55 respectively. So far 74443 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 102.45 on 14-Sep-2012 and a 52 week low of Rs 53.00 on 09-Dec-2011.

Last one week high and low of the scrip stood at Rs 84.55 and Rs 81.00 respectively. The current market cap of the company is Rs 4228.77 crore.

The promoters holding in the company stood at 43.37% while Institutions and Non-Institutions held 33.53% and 23.10% respectively.

Apollo Tyres is planning to invest $1 billion in the next five years to expand its global footprint. The company has decided to set up two new plants in South East Asia and Eastern Europe and to increase the production capacity of its factory in the Netherlands to 7.5 million units a year from the current 6 million units per annum.

The entity is also planning to convert its Kalamassery plant in Kerala into a dedicated unit for the production of off-highway tyres (OHTs) with about 85% of the output aimed at catering to export markets, including the US, Europe, Australia and Latin America.