Apollo Tyres can move to Rs 97-98: Thukral

Apollo Tyres can move to Rs 97-98, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "Auto is one sector which has seen the best rollover cost. Auto clearly is the one sector which is still showing lot of long rollovers. Apollo Tyres is a midcap in it which has shown substantial jump in the rollovers. Way above six months average. It’s already done 69%. Moreover the cost is really bullish, so I am expecting at least Rs 97-98. The base for Apollo Tyres has been Rs 87-88. So that should be maintained as a stop loss."
The company's trailing 12-month (TTM) EPS was at Rs 3.93 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 23.16. The latest book value of the company is Rs 37.55 per share. At current value, the price-to-book value of the company was 2.42. The dividend yield of the company was 0.55%.