Buy Apollo Tyres, target Rs 176: Sagar Doshi

Sagar Doshi of Edelweiss Financial Services has a buy call on Apollo Tyres Ltd. with a target price of Rs 176. The current market price of Apollo Tyres Ltd. is Rs 165.05 Time period given by the analyst is Intra Day when Apollo Tyres Ltd. price can reach the defined target. Sagar Doshi recommended to keep stoploss at Rs 158. Apollo Tyres Ltd., incorporated in 1972, has a market cap of Rs 9441.68 crore.

Apollo Tyres Ltd. key Products/Revenue Segments include Tyres, Tubes & Flaps which contributed Rs 12013.12 Crore to Sales Value (97.24 % of Total Sales), Other Operating Revenue which contributed Rs 264.18 Crore to Sales Value (2.13 % of Total Sales), Others which contributed Rs 76.46 Crore to Sales Value (0.61 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 4272.05 Crore, up 2.29 % from last quarter Sales of Rs 4176.26 Crore and up .53 % from last year same quarter Sales of Rs 4249.40 Crore Company has reported net profit after tax of Rs 141.56 Crore in latest quarter. The company’s top management includes Dr.S Narayan, GeneralBikram Singh, Mr.Akshay Chudasama, Mr.Francesco Gori, Mr.Neeraj Kanwar, Mr.Nimesh N Kampani, Mr.Onkar S Kanwar, Mr.Robert Steinmetz, Mr.Satish Sharma, Mr.Sunam Sarkar, Mr.Vikram S Mehta, Mr.Vinod Rai, Mrs.Pallavi Shroff, Ms.Anjali Bansal. Company has Walker Chandiok & Co. LLP as its auditor. As on 30-06-2019, the company has a total of 572,049,980 shares outstanding.