SP Tulsian of sptulsian.com told CNBC-TV18, "Post the news of acquisition of Cooper Tire and Rubber Company, Apollo Tyres has never broken the support of Rs 60 and now it is ruling at Rs 65. So, maybe the news which has come in that Cooper Tire's shareholders have approved takeover of the company by Apollo Tyres, probably market is little apprehensive that this acquisitions may not work well for the company. However, I am positive on this acquisition and if somebody keep a view of maybe about three-six months, he/she can look to see a price of Rs 75."
"I will advise to remain invested with a view of at least three months. If one gets to see a price of Rs 75, he/she can look to exit. On the downside, it has a limited risk from hereon because at the peak of worst news we have seen the share holding a level of Rs 60," he added.
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