TS Harihar positive on Apollo Tyres, target 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.