Apollo Tyres

Apollo Tyres to invest $340 mn to upgrade facilities

Apollo-TyresNew Delhi: Apollo Tyres board on Wednesday said its board has approved a proposal to invest USD 340 million (around Rs 2,025 crore) to upgrade its manufacturing facilities at Chennai and Kalamassery (Kerala).

Besides, the company's board which met on Wednesday, also gave its nod to seek shareholders' approval to raise USD 200 million (around Rs 1,191 crore) via issue of securities to pursue organic growth opportunities and for other corporate purposes, Apollo Tyres Ltd said in a statement.

Cooper Tire scraps merger plans with Apollo Tyres

Cooper Tire scraps merger plans with Apollo TyresCooper Tire & Rubber, which is based in Findlay, Ohio, has said that it will not accept sale of the company to India's Apollo Tyres.

Apollo Tyres, based in Gurgaon near New Delhi, had launched a $2.5 billion merger plan around six months earlier. Cooper said that the financing for the deal is not available and said that Apollo breached the terms of the agreement. Both the companies had agreed to the sale earlier in June but the deal began to fall apart after negotiations with Cooper employees did not proceed as planned.

Apollo Tyres posts over 44% jump in quarterly net

Apollo Tyres posts over 44% jump in quarterly netApollo Tyres Ltd has posted an impressive increase of more than 44 per cent in net profit for the three-month period ended September 30, thanks to the company's focus on improving its product and customer mix across geographies.

In a filing with the Bombay stock Exchange (BSE), the Tyre giant revealed that its net profit increased 44.19 per cent, from Rs 152.2 crore in the July to September quarter of 2012 to Rs 219.47 crore in the same quarter of this year.

Net sales jumped 1.73 per cent year-on-year, from Rs 3,374.82 crore to Rs 3,433.46 crore.

Apollo Tyres’ shares gain on uncertainty over deal with Cooper

Apollo Tyres’ shares gain on uncertainty over deal with CooperShares of Apollo Tyres gained nearly 3 per cent on Thursday, thanks to ongoing uncertainty over the company's $2.5 billion acquisition deal with American tyre-maker Cooper Tire & Rubber Co.

At nearly 15:10 IST, shares of Apollo Tyres were trading at Rs 66.85 apiece, at a gain of 2.77 per cent, on the Bombay stock Exchange (BSE). 

The stock hit intraday high and low of Rs 67.85 and Rs 65.60, respectively. The stock hit its 52-week high and low of Rs 101.50 apiece and Rs 54.60 apiece on 8th of May and 21st of June this year.

Cooper Tire & Rubber shares fall 13% due to uncertainty over deal

Cooper Tire & Rubber shares fall 13% due to uncertainty over dealThe shares of Cooper Tire & Rubber fell as much as 13 per cent on Monday over uncertainties relating to its deal with Apollo Tyres.

India's Apollo has indicated that it is seeking a lower price than $35 per share it offered for the shares of Cooper in June due to additional costs and the union matters. Cooper, which is based in Ohio, US said that it does not agree to such a price reduction for its shares. Investors are concerned that the deal might not be finalised and the Indian firm might walk away.

Apollo shares jump on renegotiation of $2.5bn Cooper deal reports

apollo tyreExtending its Monday's 5 per cent rally, Apollo Tyres stock enjoyed another considerable gain in morning trade on Tuesday, on reports that the Indian tyre-maker is looking to renegotiate the terms of $2.5-billion Cooper Tire & Rubber Co acquisition deal.

The Indian tyre-maker recently said that the proposed deal to acquire the American tyre-maker might burden it with huge, unanticipated costs well beyond those it was obligated to bear under the original merger agreement. It also claimed that Cooper had acknowledged to it that some price decrease was warranted.

Apollo Tyres’ market value slips by a third in just 2 days

Apollo Tyres’ market value slips by a third in just 2 daysApollo Tyres shares lost nearly a third of its market value in just two days after the company announced its $2.5-billion acquisition of US-based Cooper Tire & Rubber Co.

In morning trade on Thursday, stock in Apollo Tyres shed more than 17 per cent to Rs 76.75 a share on the Bombay Stock Exchange. The stock slipped more than a quarter of its market value on the same day.

By 0858 GMT on Friday, the stock lost another 6.9 per cent to Rs 63.85 a share. The decline didn't stop there. It ended the day's trading at around Rs 62 a share.

Apollo Tyres to invest $1 billion on global expansion in next five years

Apollo Tyres to invest $1 billion on global expansion in next five yearsApollo Tyres has said that it is planning to invest about $1 billion or about Rs 5,545 crore during the next five years on its global expansion plans.

The company is planning to set up two new plants in South East Asia and Eastern Europe. Apollo Tyres will also convert its Kalamassery plant in Kerala into a dedicated unit for producing off-highway tyres (OHTs) and about 85 per cent of the output is aimed at the export to US, Europe, Australia and Latin America and other countries.

Apollo Tyres to invest Rs 300 crore in Kalamassery unit over two years

Apollo Tyres to invest Rs 300 crore in Kalamassery unit over two yearsApollo Tyres is planning to invest Rs 300 crore in its Kalamassery unit over the coming two years aiming to transform the unit into a manufacturing base of industrial tyres.

The company is planning to turn the unit into an export focused unit with a focus on Europe, South African and North American markets. The company has plans to invest Rs 150 crore in India for maintenance capex.

Buy Apollo Tyres With Target Of Rs 75

Buy Apollo Tyres With Target Of Rs 75Technical analyst Puneet Kinra of Bonanza Portfolio has maintained 'buy' rating on Apollo Tyres Limited stock with a target of Rs 75.

According to analyst, the investors can buy the stock on dips with stop loss of Rs 66.

The stock of the company, on April 28, closed at Rs 70.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.35 on BSE.

Current EPS & P/E ratio stood at 4.93 and 14.31 respectively.

Buy Apollo Tyres To Achieve Intraday Target Of Rs 74

Buy Apollo Tyres To Achieve Intraday Target Of Rs 74Technical analyst Anil Singhvi has maintained 'buy' rating on Apollo Tyres Limited stock with an intraday target of Rs 74.

According to analyst, the stock of the company can be bought with a stop loss of Rs 68.

The shares of the company, on March 15, closed at Rs 69.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.35 on BSE.

Current EPS & P/E ratio stood at 4.93 and 14.32 respectively.

Buy Apollo Tyres To Achieve Intraday Target Of Rs 66.90

Buy Apollo Tyres To Achieve Intraday Target Of Rs 66.90Technical analyst Anil Singhvi has maintained 'buy' rating on Apollo Tyres Limited stock with an intraday target of Rs 66.90.

Mr. Singhvi said that if the stock market remains positive, the next target for the day will be 69.40.

According to analyst, the stock of the company can be bought on dips with a stop loss of Rs 63.70.

The shares of the company, on March 10, closed at Rs 65.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.35 on BSE.

Intraday Buy Call For Apollo Tyres

Intraday Buy Call For Apollo TyresTechnical analyst Hitendra Vasudeo has maintained 'buy' rating on Apollo Tyres Limited stock with targets of Rs 59.20 and 62.70.

According to analyst, the stock can be purchased with a stop loss of Rs 54.90.

The stock of the company, on March 3, closed at Rs 57.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.35 on BSE.

Current EPS & P/E ratio stood at 4.93 and 11.92 respectively.

Apollo Tyres Result Review by PINC Research

Apollo Tyres Result Review by PINC ResearchApollo Tyres (APTY) Q3FY11 standalone results were inline with a profit of Rs541mn as against our estimate of Rs527mn. Though volumes improved sequentially post lockout, it fell short of our estimates. Due to efficiency in raw material buying, standalone margins were maintained QoQ despite increase in natural rubber prices. Consolidated profits surpassed our expectation with subsidiaries contributing Rs667mn in profits.

Buy Apollo Tyres With Stop Loss Of Rs 60

Buy Apollo Tyres With Stop Loss Of Rs 60Technical analyst Prakash Gaba has maintained 'buy' rating on Apollo Tyres Limited stock with a target of Rs 67-68.

According to analyst, the investors can purchase the stock with a stop loss of Rs 60.

The stock of the company, on January 11, closed at Rs 61.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 50.25 on BSE.

Current EPS & P/E ratio stood at 5.88 and 10.63 respectively.

Buy Apollo Tyres With Target Of Rs 97

Apollo Tyres LtdPINC Research has maintained buy rating on Apollo Tyres Ltd with a price target of Rs 97 in its report dated Dec 15, 2010.

Lock-outs at Apollo Tyres' Cochin facility and Dunlop (South Africa) operations took a toll on its H1FY11 results. Further, high natural rubber prices impacted margins. Rubber supply has been disrupted due to unseasonal weather in India and South East Asia, driving prices to an all-time high of Rs200/kg. Domestic tyre manufacturers have undertaken 3-4 rounds of price increases and another round is expected soon. The demand momentum is expected to continue, however ability to take price increases seems to be limited.

Buy Apollo Tyres With Target Of Rs 68

Buy Apollo Tyres With Target Of Rs 68Stock market analyst Prakash Gaba has maintained 'buy' rating on Apollo Tyres Ltd stock with a target of Rs 68.

According to analyst, the stock can be purchased with a stop loss of Rs 63.

The stock of the company, on Nov 24, closed at Rs 65.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.65 on BSE.

Current EPS & P/E ratio stood at 5.88 and 11.19 respectively.

Buy Call For Apollo Tyres with target price of Rs 97: PINC Research

Lockouts at its Cochin facility and Dunlop (South Africa) operations took a toll on Apollo Tyres' Q2FY11 results. Exacerbating this, high natural rubber prices impacted margins. Rubber supplies have been disrupted due to unseasonal weather in India and South East Asia, spiraling prices to an all-time high of Rs200/kg. Domestic players have made 3-4 rounds of price increases and another round is expected soon. Demand momentum is expected to continue in domestic markets. While domestic business is on a difficult turf, overseas subsidiaries are expected to contribute Rs1.9bn in profits in FY11.

What will move the stock?

PINC Result Review – Apollo Tyres Ltd.

Apollo Tyres Ltd.Lockouts Play Spoilsport; Rubber Remains A Concern

Apollo Tyres (APTY) Q2FY11 standalone results were ahead of our expectation as the company posted a margin of 10.3% against our estimate of 7.7%. Sales were lower by 3.7% YoY as lockout at Cochin facility led to lower volumes. Dunlop (S. A) operations suffered a loss of Rs77mn during the quarter due to a 33-day lockout. VBBV operations remained profitable posting a profit of Rs236mn. Disappointing standalone performance dragged consolidated profits lower by 58.8% YoY to Rs533mn.

Buy Apollo Tyres With Stop Loss Of Rs 71.80

Buy Apollo Tyres With Stop Loss Of Rs 71.80Technical analyst Anu Jain has maintained 'buy' rating on Apollo Tyres Limited stock with stop loss of Rs 71.80.

According to analyst, the interested investors can buy the stock on declines to achieve an intraday target of Rs 78.

The stock of the company, on Nov 05, closed at Rs 73.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 46.65 on BSE.

Current EPS & P/E ratio stood at 7.16 and 10.17 respectively.




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