Apollo Tyres Stock

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Apollo Tyres has recently experienced a notable decrease from its peak of 568 to approximately 200 SMA on the daily time frame chart.

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The National Company Law Appellate Tribunal (NCLAT) has directed the NCLT to hear afresh the insolvency plea filed by APL Apollo Tubes against one of its purchasers of goods. A two-member bench came down heavily on the Bengaluru bench of the National Company Law Tribunal (NCLT) for rejecting claims of APL Apollo Tubes on the "hypothetical interpretation". The NCLAT said the tribunal "should refrain from stepping into the shoes of a litigating party by substituting their own finding in the absence of there being any pleading evidence". The appellate tribunal has directed the NCLT to make all efforts to decide proceedings as expeditiously as possible. The NCLAT order came over a petition filed by APL Apollo Tubes against an order of the NCLT, which, on September 9, 2019, dismissed its insolvency plea filed as an operational creditor against Tanisha Scaffolding. Tanisha Scaffolding was engaged in marketing the products manufactured by APL Apollo Tubes. Some amount against supplies wa

European markets closed on a negative note, with Germany's DAX falling 0.22 per cent and the UK's FTSE dropping 0.09 per cent

Auto, tyre stock update: Shares of auto and tyre makers rallied up to 5 per cent in intra-day deals on Tuesday, lifting the Nifty Auto index to a new all-time high on upbeat outlook.

The key buyers included Nippon India Mutual Fund, ICICI Prudential Mutual Fund, and Edelweiss Mutual Fund, among others

The stock is trading at 16 times its estimated FY25 consolidated earnings per share

Stocks to Watch Today: Bandhan Bank, BoB, Eicher Motors, Escorts, REC, SBI, Tech Mahindra and UCO Bank are likely to be in focus ahead of Q4 results; Delhivery and Venus Pipes IPOs close on Friday.

Apollo Tyres on Thursday said its consolidated net profit has declined by 61 per cent to Rs 113 crore for the fourth quarter ended March. The company had reported a consolidated net profit of Rs 287 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose by 11 per cent to Rs 5,578 crore, as against Rs 5,026 crore in the fourth quarter of FY21, Apollo Tyres said in a statement. For the year ended March 31, 2022, the tyre major said its net profit increased by 82 per cent to Rs 639 crore, as compared to Rs 350 crore in 2020-21. Revenue from operations rose by 20 per cent to Rs 20,948 crore, as against Rs 17,397 crores in FY21, the company said. "The unprecedented rise in input costs in FY22, have taken a toll on our margins, despite our internal cost control measures, and multiple rounds of price corrections undertaken in different product categories," Apollo Tyres Chairman Onkar Kanwar noted. The robust demand witnessed by the company's European operatio

In a Q&A, the chairman of Apollo Tyres sees multiple growth triggers for the domestic industry ahead, but notes that relentless commodity inflation is the biggest pain point for companies

The strategy going forward is really to sweat our assets and get our utilisation levels to reach 90-95% in all our plants, said Kanwar

Healthy volume outlook, focus on debt reduction are key positives, say analysts

Price hikes to offset some of the the surge in raw material costs

The company had initially planned around Rs 1,400-1,500 crore in India and about 20 million pounds for its European facility

The Indian tyre industry is expected to grow at 8-10 per cent for FY18