Buy Apollo Tyres, target price Rs 590: Motilal Oswal

Motilal Oswal has buy call on Apollo Tyres with a target price of Rs 590. The current market price of Apollo Tyres Ltd. is Rs 532.85.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 33450.77 Crore) operating in Tyres sector.

Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps, Other Operating Revenue and Scrap for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 6365.69 Crore, up .52 % from last quarter Total Income of Rs 6332.52 Crore and up 1.36 % from last year same quarter Total Income of Rs 6280.12 Crore. Company has reported net profit after tax of Rs 301.98 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 37.36 per cent stake in the company as of 30-Jun-2024, while FIIs owned 14.46 per cent, DIIs 25.02 per cent.