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Apollo Tyres shines on receiving nod to sell South African arm for $60 million

Apollo Tyres Ltd. | Tyres & Allied | Automobiles | BSE: 500877 | NSE: APOLLOTYRE

30 May 2013 Evaluate

Apollo Tyres is currently trading at Rs. 91.30, up by 1.00 points or 1.11% from its previous closing of Rs. 90.30 on the BSE.

The scrip opened at Rs. 91.25 and has touched a high and low of Rs. 92.35 and Rs. 90.70 respectively. So far 78,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.45 on 13-Sep-2012 and a 52 week low of Rs. 73.80 on 20-Jun-2012.

Last one week high and low of the scrip stood at Rs. 91.50 and Rs. 85.00 respectively. The current market cap of the company is Rs. 4,601.00 crore.

The promoters holding in the company stood at 43.37% while Institutions and Non-Institutions held 35.39% and 21.24% respectively.

Apollo Tyres has received an approval from its board to proceed with requisite approvals and compliances on a transaction with Sumitomo Rubber Industries (SRI) by which SRI may take over Apollo Tyres South Africa (ATSA) including the Ladysmith Tyre plant and Dunlop Brand rights in Africa at a consideration of $60 million. The Company will retain the Durban plant, through the Holding Company of ATSA, which manufactures Truck and Bus Radial Tyres and Off Highway Tyres. The board of company at its meeting held on May 29, 2013 has approved for the same.

The Company will be able to disclose further information only after certain conditions have been met and certain approvals, including regulatory and statutory approvals, are granted, wherever required. The closing of transaction is likely to take place in next 4 months.

Meanwhile, Apollo Tyres South Africa (ATSA), a wholly-owned-subsidiary of Apollo Tyres in India located in South Africa, the core business is the manufacture and distribution of Dunlop tyres in South Africa and the thirty two countries in which Apollo Tyres owns trade mark rights.

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
View more..

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Apollo Tyres shines on receiving nod to sell South African arm for $60 million

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