Apollo Tyres shares soared 23.81 per cent to end the day at Rs 18.51 on an announcement that the company’s board are considering a buy-back proposal. Apollo’s board of directors is set to meet on March 19, 2009 for a consideration of buy-back of shares.
The stock made an intraday high of Rs 20.4 and a low of Rs 14.75 with trading volumes of 33.12 lakh shares (around 3.5 times higher than its two-week average). The scrip made a 52-week high of Rs 48.4 (May 05, 2008) and a low of Rs 14.75 (March 02, 2009).