Gujarat Apollo spurts on entering into JV with Switzerland based Ammann Group

Gujarat Apollo Industries Ltd. | Engineering - Industrial Equipments | Capital Goods & Industrial Consumables | BSE: 522217 | NSE: GUJAPOLLO

11 Apr 2013 Evaluate

Gujarat Apollo Inds is currently trading at Rs 108.50, up by 4.00 points or 3.83% from its previous closing of Rs 104.50 on the BSE.

The scrip opened at Rs 110.00 and has touched a high and low of Rs 110.50 and Rs 107.30 respectively. So far 8777 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 158.70 on 20-Dec-2012 and a 52 week low of Rs 92.50 on 06-Feb-2013.

Last one week high and low of the scrip stood at Rs 106.80 and Rs 100.10 respectively. The current market cap of the company is Rs 180.25 crore.

The promoters holding in the company stood at 50.45% while Institutions and Non-Institutions held 9.59% and 39.97% respectively.

The Gujarat based Apollo Group, a market leader in road construction equipment business in India, has launched a strategic joint venture (JV) with the Ammann Group of Switzerland. The Ammann Group now holds a controlling stake of 70% in erstwhile the consolidated road construction equipment business of the Apollo Group. This investment marks the entry of the Ammann Group into the Indian market for road construction equipment, which is expected to grow in view of the policy thrust of government on increasing the road network across the country.

To form the JV, Gujarat Apollo Industries (GAIL) and its wholly owned subsidiary, Apollo Earthmovers (AEML) have transferred their respective identified businesses, being the entire product portfolio of asphalt plants and the paver business (excluding the crushing and screening business) to Apollo Construction Equipments (ACEL) on slump sale basis.

The entities forming part of the Ammann Group have acquired fresh equity shares of ACEL such that their shareholding in Ammann Apollo India (ACEL), is 70% and the balance 30% shares of ACEL are now held by AEML.

The Apollo Group is the market leader in India in the manufacture of road construction equipment and this joint venture will give Armnann a head start in its expansion plans into India. The joint venture, with the involvement of the Ammann Group, is expected to have a more robust portfolio of products and customer solutions, significant operational synergies, global market reach and cash flow generation to support growth.

Guj. Apollo Inds Share Price

370.40 7.90 (2.18%)

12-Jun-2026 16:59 View Price Chart

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