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    Buy Apollo Tyres, target price Rs 450: JM Financial

    Synopsis

    Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps, Other Operating Revenue and Scrap for the year ending 31-Mar-2023.

    StocksAgencies
    Promoters held 37.34 per cent stake in the company as of 30-Jun-2023, while FIIs owned 23.41 per cent, DIIs 17.12 per cent.
    JM Financial has buy call on Apollo Tyres Ltd. with a target price of Rs 450. The current market price of Apollo Tyres Ltd. is Rs 371.45.
    Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 23632.11 Crore) operating in Tyres sector.

    Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps, Other Operating Revenue and Scrap for the year ending 31-Mar-2023.


    Financials
    For the quarter ended 30-06-2023, the company reported a Consolidated Total Income of Rs 6280.12 Crore, up .25 % from last quarter Total Income of Rs 6264.24 Crore and up 5.50 % from last year same quarter Total Income of Rs 5952.61 Crore. Company reported net profit after tax of Rs 396.86 Crore in latest quarter.



    Promoter/FII Holdings
    Promoters held 37.34 per cent stake in the company as of 30-Jun-2023, while FIIs owned 23.41 per cent, DIIs 17.12 per cent.
    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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