Apollo Tyres gains on inaugurating advanced R&D tyre testing facility in Chennai
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Apollo Tyres is currently trading at Rs. 316.00, up by 1.40 points or 0.45% from its previous closing of Rs. 314.60 on the BSE.
The scrip opened at Rs. 314.30 and has touched a high and low of Rs. 316.70 and Rs. 311.70 respectively. So far 30631 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 323.55 on 05-Dec-2022 and a 52 week low of Rs. 165.40 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 323.55 and Rs. 311.70 respectively. The current market cap of the company is Rs. 20081.89 crore.
The promoters holding in the company stood at 37.34%, while Institutions and Non-Institutions held 41.20% and 21.46% respectively.
Apollo Tyres has inaugurated an Advanced Tyre Testing facility, which is housed at its Global R&D Centre, Asia in Chennai, India. The new facility will help improve upon the efficiency and effectiveness of product development cycle for passenger vehicle and two-wheeler tyres, including the ones for electric vehicles.
The key features of the Advanced Test facility are the custom-designed Flat-trac machine and Anechoic Chamber, which would characterise the performance of tyres’ dynamics and acoustics, leading to faster product development for both OE and Replacement markets. The development of tyres for high-end passenger vehicles, EV specific tyres for PV and high-end motorcycle tyres would be the products that would get directly benefitted due to this facility.
Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.
