Apollo going great but not in the same league as MRF or Ceat: Miintdirect.com

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, shares his views on Apollo Tyres. Excerpt:

ET Now: Is there any kind of meet in the stock about Apollo still having to play catch up?

Avinnash Gorakssakar: There would be some catch up as we have been seeing that this deal had actually been overhang on the stock.

The stock had not done that well as compared to the other tyre companies, so there would be some amount of catching up. However, if you see the business model of Apollo, clearly the CV market is a very large component. Until that really does not take off, I would not be surprised that the movement for Apollo Tyres would be a slower one compared to what we saw in Ceat and some of the other tyre stocks.

Clearly, this news is definitely positive for Apollo but I would not put in the same kind of perspective like say an MRF or maybe a Ceat.