Apollo Tyres has target of Rs 100: Rajesh Jain

Apollo Tyres has target of Rs 100, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "Apollo Tyres has tremendous upsides from its volume capacity expansion. It has recently set-up the Middle East hub in Dubai and hopes to triple volumes in a very short time. It has also done a similar thing in Sri Lanka and are aware of capacity acquisitions in South Africa and the rest."
He further added, "Apollo Tyres very clearly a play on product up gradation into radicals that it has successfully achieved and volume growth and the replacement market, which there has been a disappointment the evidence by the Exide numbers. But relatively safe play and I would pitch it for a target of Rs 100 over the year."
"Lanco Infra continues to suffer from a host of issues in various segments that it operates in but I continue to believe that the stock has excellent assets and going forward once the tide turns for infrastructure and the power space Lanco could be one of the front runners to start gaining. So I was playing an infrastructure stock for 2 times over the next one year it would be Lanco & IRB."