APOLLO TYRES LIMITED

News on Apollo Tyres Limited

Buy Apollo Tyres on declines:
Phani Sekhar P Phani Sekhar, Fund ManagerPMS at Angel Broking is of the view
that one can buy Apollo Tyres on declines Phani Sekhar, Fund ManagerPMS at
Angel Broking told CNBC-TV18, " Apollo Tyres is a good candidate for buying on
declines because softer rubber prices are something that will continue for another at
least six months or so considering the global glut in rubber production and at the same
time you are looking at auto demand reviving. So, both these are good moment for tyre
stocks and in general, leaders like Apollo Tyres." "I guess it is a good time and
valuations are not really demanding considering what these two factors will do to the
earnings over the next two to three quarters. But just as a measure of prudence you can
keep buying it on all declines," he added

Apollo Tyres can test Rs 240-245: Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, " Apollo Tyres
belongs to the sector of auto stocks and I have been bullish on auto as a sector overall.
The stock has given a breakout above a cup and handle pattern. A cup and handle
pattern is a typical pattern which occurs during bull markets and it is a very reliable
pattern. The breakout has happened yesterday. This morning it again fell below the
pattern but has conquered it. So it gives me more confidence towards the stock." "I
am looking at Rs 240-245 kind of an area as a primary target but if you look at the
depth of the pattern of Apollo Tyres then it is about 60-70 points which would say
that it can go to as high as Rs 280-290 levels. So this is my prime recommendation
today," he said.

Apollo Tyres can touch Rs 217: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "On September 9, Apollo
Tyres made a high of Rs 217 and then it corrected. On Friday, it took support near to
50-day moving average. Today it bounced back sharply and broke the resistance of Rs
197 with very good volumes. Oscillators are showing positive crossover. The
correction is over and it can again test its September 9 high of Rs 217. So that is our
target and stoploss should be Rs 198." At 14:21 hrs Apollo Tyres was quoting at Rs
201.55, up Rs 9.65, or 5.03 percent. It has touched an intraday high of Rs 206 and an
intraday low of Rs 190.75.