With the vision to become “Brand of Choice”, Apollo Tyres has 5 brands under its flagship. Apollo Tyres has a significant chunk of market share in Passenger Vehicle tires, Commercial vehicle tires and off highway tires. To meet specific customer needs, strategic brand creation has helped the company achieve 51% increase in consolidated net profits in Q3. Fundamentally, the stock price is trading at 1.35 times the Book Value (BV) and at it’s Price to Earning (PE) ratio is at industry average PE.
Fundamentally, the stock price is trading at 1.35 times the Book Value (BV) and at its Price to Earning (PE) ratio is at industry average PE.
Technically, after making the double bottom at Rs.125, the stock price is gradually moving higher. If the stock price is able to surpass the round number 150 on the closing basis, significant volumes are expected to take stock price towards Rs.174-186 in short term.
If you have conviction about the growth of Indian auto industry, you can hold the stock for the longer term. This view holds good till the stock price is able to close above Rs.125.
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Disclaimer: I do not hold any position in APOLLO TYRES.