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Apollo Tyres inches up on launching new range of tyres for compact SUVs

Apollo Tyres is currently trading at Rs. 233.50, up by 1.25 points or 0.54% from its previous closing of Rs. 232.25 on the BSE.

The scrip opened at Rs. 235.65 and has touched a high and low of Rs. 235.65 and Rs. 231.25 respectively. So far 6826 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 261.20 on 04-Mar-2021 and a 52 week low of Rs. 73.55 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 245.50 and Rs. 230.65 respectively. The current market cap of the company is Rs. 14750.22 crore.

The promoters holding in the company stood at 37.61%, while Institutions and Non-Institutions held 34.73% and 27.66% respectively.

Apollo Tyres has launched a new range of tyres for the fast-growing compact SUV segment. The company has launched Apterra Cross tyres in the country after two years of extensive testing and tuning. This is the first dedicated range of tyres that caters to the compact SUV segment, the hottest selling segment of the decade, in the Indian automotive industry. The company has the first mover advantage with Apollo Apterra Cross, and Apollo targeting at a leadership position in this segment.

The Apterra Cross tyres is an outcome of an in-depth research to understand the exact usage patterns of compact SUV owners/drivers, basis which the team at Apollo Tyres Global R&D Centre Asia, in Chennai, designed and developed the new tyres. The tyre range is being produced at the company’s unit in Oragadam, Tamil Nadu.

Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.

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