Apollo Tyres gains on plan to expand capacity at its Chennai facility

Apollo Tyres is currently trading at Rs. 179.90, up by 1.45 points or 0.81% from its previous closing of Rs. 178.45 on the BSE. The scrip opened at Rs. 177.50 and has touched a high and low of Rs. 182.50 and Rs. 177.10 respectively. So far 237210 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 193.90 on 23-May-2014 and a 52 week low of Rs. 54.60 on 21-Jun-2013. Last one week high and low of the scrip stood at Rs. 193.90 and Rs. 173.00 respectively. The current market cap of the company is Rs. 9090.09 crore. The promoters holding in the company stood at 43.50% while Institutions and Non-Institutions held 42.36% and 14.14% respectively. Apollo Tyres is planning to expand its capacity at its Chennai facility. Moreover, the company is also in the process of setting up a R&D centre in the same complex. The new Centre will take up R&D works related to commercial vehicles for all the Apollo plants, across the World. At present, the Chennai plant manufacture radial tyres for truck and capacity of the plant is 6,000 trucks tyres and 15,000 passenger car tyres a day and the capacity utilisation of around 70-75%. The facility caters to both domestic and export markets. Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.