Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now

Buy Apollo Tyres; target of Rs 230: ICICI Direct

ICICI Direct is bullish on Apollo Tyres has recommended buy rating on the stock with a target price of Rs 230 in its research report dated June 20, 2022.

June 20, 2022 / 03:06 PM IST
Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Apollo Tyres


Apollo Tyres (ATL) is a leading tyre manufacturer with operations in India and Europe. APMEA (largely India), Europe comprise ~67%, ~31% of sales, respectively. FY22 segment mix: Truck/bus ~43%, PV ~35%, OHT ~10%, others ~12% • FY22 channel mix: Replacement ~81%, OEM’s ~19%.


Outlook


We retain our BUY rating on ATL amid retained focus on capital efficiency. Marginally revising our estimates, we now value ATL at a target price of Rs 230 i.e., 5x FY24E EV/EBITDA (previous target price: Rs 250).


More Info

Close

At 15:02 hrs Apollo Tyres was quoting at Rs 174.50, down Rs 1.45, or 0.82 percent.


It has touched an intraday high of Rs 180.30 and an intraday low of Rs 167.15.


It was trading with volumes of 194,881 shares, compared to its thirty day average of 205,283 shares, a decrease of -5.07 percent.


In the previous trading session, the share closed down 0.17 percent or Rs 0.30 at Rs 175.95.


The share touched its 52-week high Rs 250.00 and 52-week low Rs 165.40 on 18 October, 2021 and 07 March, 2022, respectively.


Currently, it is trading 30.2 percent below its 52-week high and 5.5 percent above its 52-week low.


Market capitalisation stands at Rs 11,082.51 crore.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 20, 2022 03:04 pm
Sections
ISO 27001 - BSI Assurance Mark