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    Sell Apollo Tyres, target price Rs 173: Motilal Oswal

    Synopsis

    Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 11552.49 Crore) operating in Tyres sector.

    apollo tyresETAuto
    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.
    Motilal Oswal has sell call on Apollo Tyres with a target price of Rs 173. The current market price of Apollo Tyres Ltd. is Rs 180.15.

    Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 11552.49 Crore) operating in Tyres sector.

    Financials
    For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 4233.80 Crore, up 49.70 % from last quarter Sales of Rs 2828.23 Crore and up 7.84 % from last year same quarter Sales of Rs 3926.06 Crore Company reported net profit after tax of Rs 199.96 Crore in latest quarter.


    Investment Rationale
    Negative divergence on weekly chart and RSI indicator along with formation of Double Top.

    Promoter/FII Holdings
    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.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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