Apollo Tyres gains; Morgan Stanley buys 0.5% stake

Singapore-based Morgan Stanley Asia purchased 0.5 percent stake in Apollo Tyres. The news led to stocks of Apollo Tyres gain almost 2.45 percent and hit their highest intra-day level since June 18.

July 11, 2013 / 13:39 IST

26 Aug, 2025 12:21

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Shares in Apollo Tyres Ltd gain as much as 2.45 percent, hitting their highest intraday level since June 18, after Morgan Stanley Asia (Singapore) Pte on Wednesday bought a 0.5 percent stake in the company via a bulk deal, NSE data shows.

Morgan Stanley bought 2.7 million shares in the company at a price of Rs 63.37 a share, data shows.

Also read: No risk to Cooper deal; completion by Oct: Apollo Tyres

Apollo shares are trading up 1.19 percent at Rs 64 after earlier touching Rs 64.80.

Apollo Tyres' shares have slumped 31.2 percent after it announced on June 12 its plans for a USD 2.5 billion deal to buy US-based Cooper Tire & Rubber Co, raising concerns about the company's debt.

first published: Jul 11, 2013 01:25 pm

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