Avoid Apollo Tyres, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Theoretically we want to sell Apollo Tyres because something that has fallen so much is not worth buying. In practice it is not a good idea to sell short at this price and certainly not buy it."

At 11:29 hrs Apollo Tyres was quoting at Rs 64.75, up Rs 0.80, or 1.25 percent.It has touched an intraday high of Rs 65.70 and an intraday low of Rs 63.65.
The share touched its 52-week high Rs 102.45 and 52-week low Rs 61.45 on 14 September, 2012 and 17 June, 2013, respectively. Currently, it is trading 36.8 percent below its 52-week high and 5.37 percent above its 52-week low. Market capitalisation stands at Rs 3,263.56 crore. Also Read: Apollo Tyres hopes to add Rs 450-700cr to operating margin