Kotak Securities has given a buy rating to Apollo Tyres with a target price of Rs 139. The share price moved up by 0.45 per cent from its previous close of Rs 132.90. The stock’s last traded price is Rs 133.50.
Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 7599.68 Crore) operating in Tyres sector.
Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps which contributed Rs 10769.22 Crore to Sales Value (97.35 % of Total Sales), Other Operating Revenue which contributed Rs 189.66 Crore to Sales Value (1.71 % of Total Sales), Others which contributed Rs 63.48 Crore to Sales Value (0.57 % of Total Sales) and Scrap which contributed Rs 39.67 Crore to Sales Value (0.35 % of Total Sales)for the year ending 31-Mar-2020.
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 2828.23 Crore, down 20.36 % from last quarter Sales of Rs 3551.22 Crore and down 33.80 % from last year same quarter Sales of Rs 4272.05 Crore. The Company reported net profit after tax of Rs -134.56 Crore in latest quarter.
Higher bottom formation on daily charts likely to continue in the short run.
Promoters held 40.90 per cent stake in the company as of March 31, 2020, while FIIs held 22.89 per cent, DIIs 18.81 and public and others 17.4 per cent.