Emkay Global Financial recommended hold rating on Apollo Tyres with a target price of Rs 95 in its research report dated May 20, 2020.
Sharekhan is is bullish on Apollo Tyres has recommended buy rating on the stock with a target price of Rs 108 in its research report dated May 20, 2020.
ICICI Direct recommended hold rating on Apollo Tyres with a target price of Rs 100 in its research report dated May 20, 2020.
The Delhi-based tyre maker had announced FY21 capex target of Rs 1,700-1,800 crore in FY20. However, in the December quarter, the company cut it down to Rs 1,400 - 1,500 crore.
Total income of the company declined to Rs 3,607.74 crore for the fourth quarter as compared with Rs 4,322.24 crore in the same period of 2018-19, Apollo Tyres said in a statement.
The share touched its 52-week high Rs 221.15 and 52-week low Rs 73.55 on 18 April, 2019 and 24 March, 2020, respectively.
The date of allotment is April 9, 2020 while the same for maturity is April 9, 2030 and the interest rate is at 8.75 percent per annum, the company said, adding penal interest for delay of payment is pegged at 2 percent per annum.
"The operations at our plants in the states of Kerala (at Kalamassery and Perambra), Gujarat (Limda) and Tamil Nadu (Chennai) are shut down till March 31, 2020," Apollo tyres said in a regulatory filing.
It cited “rapidly deteriorating market conditions caused by the COVID-19 pandemic,” as the reason
Apollo Vredestein BV (AVBV) had a meeting with its employees to discuss the future of the plant in Enschede and the company's plans to build a more sustainable business in the Netherlands, Apollo Tyres said in a statement.
The company's board has approved an issuance of compulsorily convertible preference shares in the company worth Rs 1,080 crore to an affiliate of Warburg Pincus, Apollo Tyres Ltd said in a statement.
The CCPS shall carry a dividend at the rate of 6.34 percent per annum, Apollo Tyres said.
Revenue dropped nearly 7 percent YoY, coming at Rs 4,399.7 crore for Q3FY20 against Rs 4,718.41 crore in Q3FY19. A CNBC-TV18 poll had estimated the number to the tune of Rs 4,476 crore.
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ICICI Direct recommended hold rating on Apollo Tyres with a target price of Rs 180 in its research report dated November 06, 2019.
Sharekhan recommended hold rating on Apollo Tyres with a target price of Rs 185 in its research report dated November 05, 2019.
Apollo Tyres's net sales declined to Rs 3,926 crore during the second quarter as against Rs 4,192 crore in the year-ago period
Net Sales are expected to decrease by 1.3 percent Y-o-Y (down 3 percent Q-o-Q) to Rs. 4,201.6 crore, according to Reliance Securities.
Apollo Tyres' market share in the PV segment is currently pegged at around 20 percent. In the commercial vehicle segment, including radial and bias tyres, the company's market share is around 30 percent.
ICICI Direct recommended hold rating on Apollo Tyres with a target price of Rs 145 in its research report dated August 02, 2019.