TS Harihar of HRBV Client Solutions has a positive view on Apollo Tyres with a price target of Rs 225-230.
TS Harihar of HRBV Client Solutions told CNBC-TV18, "I am still positive on Apollo Tyres. I would probably believe that the stock still has an upside till about Rs 225-230. So other than Glenmark Pharma, the only other midcap stock I am looking at would be Apollo Tyres. I continue to reiterate that at these levels when they are already at about 20 times earnings, getting into midcaps in a large way may not be advisable. So I would still believe one should stick to largecaps and look at midcaps in a very selective way."
At 10:42 hrs Apollo Tyres was quoting at Rs 193.30, up Rs 3.15, or 1.66 percent. It has touched an intraday high of Rs 193.80 and an intraday low of Rs 187.60.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.