Not bullish on Apollo tyres on back of Cooper deal complications: Deven Choksey

In a chat with ET Now, Deven Choksey, Managing Director, KR Choksey Securities shares his view on the Apollo tyre deal:

ET Now: Would you be a buyer in Apollo Tyres, it looks like the Cooper Tire and Apollo Tyre deal has had some kind of an wall, the stock had cracked completely the minute Apollo announced acquisition or acquisition plans of Cooper Tyre?

Deven Choksey: I would call it as a blessing in disguise for the minority shareholders of Apollo Tyres particularly, this deal could have been quite a costly deal for Apollo. One probably may want to buy the stock, may be from trading perspective it can improve.

Going forward this trade could come out very easily and that could disturb the rhythm of investors when they hold such stocks in the portfolio, so from the investment perspective I would say that stay away from this company till the point of time the philosophy of the management goes clear as to how they want to grow the company. If they want to grow exponentially, the manner in which they have probably shown the intent at this point of time, certainly it is not calling for a space in the adding into the portfolio rather.