Apollo Tyres rides high on introducing breakthrough product in cross-ply technology
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Apollo Tyres is currently trading at Rs. 224.80, up by 0.55 points or 0.25% from its previous closing of Rs. 224.25 on the BSE.
The scrip opened at Rs. 226.50 and has touched a high and low of Rs. 228.00 and Rs. 223.45 respectively. So far 81206 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 261.20 on 04-Mar-2021 and a 52 week low of Rs. 81.60 on 06-May-2020.
Last one week high and low of the scrip stood at Rs. 234.45 and Rs. 219.85 respectively. The current market cap of the company is Rs. 14302.47 crore.
The promoters holding in the company stood at 37.61%, while Institutions and Non-Institutions held 33.89% and 28.50% respectively.
To further strengthen its leadership position in India, especially in the commercial vehicle (CV) segment, Apollo Tyres has introduced a breakthrough product in cross-ply technology. The launch of Apollo Abhimanyu, a cross-ply rib tyre for steer axles in CVs, will help the company capitalise on the upsurge in the cross-ply industry in recent months in India, and radialisation on steer axles still being at lower levels compared to drive axles. This rib tyre has been launched basis the customers’ feedback, and many man hours of research and development to perfect the product to deliver the best performance to the end consumers across applications.
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.
