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Apollo Tyres gains on plan to set-up Greenfield facility in Hungary

18 Sep 2014 Evaluate

Apollo Tyres is currently trading at Rs 203.65, up by 2.35 points or 1.17% from its previous closing of Rs. 201.30 on the BSE.

The scrip opened at Rs 202.00 and has touched a high and low of Rs 205.15 and Rs 201.40 respectively. So far 153358 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 217.70 on 09-Sep-2014 and a 52 week low of Rs 61.00 on 01-Oct-2013.

Last one week high and low of the scrip stood at Rs 214.25 and Rs 193.35 respectively. The current market cap of the company is Rs. 10246.67 crore.

The promoters holding in the company stood at 44.06% while Institutions and Non-Institutions held 43.17% and 12.77% respectively.

Apollo Tyres has confirmed Hungary as the location for its first Greenfield facility outside India. The company has decided to set-up facility over there after receiving the necessary approval from its board of directors on the proposed investment towards setting-up a Greenfield facility in Eastern Europe.

The company will invest euro 475 million over the next 4 to 5 years to setup this facility in the new industrial zone near Gyongyoshalasz, Hungary. Once completed, the plant will have a capacity to produce 5.5 million passenger car & light truck (PCLT) tyres and 675,000 heavy commercial vehicle (HCV) tyres per annum.

This facility will produce both, Apollo and Vredestein branded tyres, and will cater to the entire European market, and will complement Apollo Tyres’ existing facility in the Netherlands. The construction of this plant is expected to start in the spring of 2015 and the first tyre is likely to roll out in early 2017.

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.

Apollo Tyres Share Price

445.30 1.55 (0.35%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
MRF 139772.66
Apollo Tyres 445.30
CEAT 3713.55
Balkrishna Inds. 2329.80
JK Tyres & Inds. 428.30
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