Apollo Tyres Q2 Net Profit went down 7%

Apollo Tyres disclosed a fall of 7.15 per cent in consolidated net profit at Rs 260.03 crore for the 2^nd quarter ended September. The company had clocked a net profit of Rs 280.07 crore in the same period a year ago, as per Apollo Tyres’ BSE filing. Its total income from operations went up 1.28 per cent to Rs 3,312.27 crore during the quarter under review as compared to Rs 3,270.39 crore in the same quarter last financial year.

Its total expenses were up 3.04 per cent to Rs 2,979.69 crore versus Rs 2,891.55 crore. In the first half of 2016-17, Apollo Tyres' consolidated net profit was up 1.80 per cent to Rs 574.73 crore as compared to Rs 564.56 crore in the year-ago period. Its net sales in the first half of the ongoing financial year rolled up 7.79 per cent at Rs 6,876.81 crore as against Rs 6,379.41 crore in the corresponding period last year. 

On the other hand, in a separate filing, Apollo Tyres announced that its board in a meeting held today considered and approved the execution of memorandum of understanding with government of Andhra Pradesh for land acquisition towards company's future needs.

As the trading closed on 9^th Nov, Apollo Tyres share price settled below 1 per cent at Rs.195.65. The stock opened at Rs. 182.55 as compared to its previous closing at Rs.197.55. The scrip touched the days high and low at Rs. 197.40 and Rs. 177.80.

Apollo Tyres is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Apollo Tyres is fundamentally strong and is safe for investment, as per Dynamic analysts.

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Apollo Tyres share price history.

Apollo Tyres goes into a pact With Manchester United

Apollo Tyres on Thursday went into a global sponsorship agreement with Manchester United Football Club for the next 3 years. Apollo Tyres said in a statement that after completion of 3 years of regional association with Manchester United, which aided the company increase brand visibility across the globe, the two organizations have now inked a global sponsorship agreement for the next three years.

Apollo Tyres, as part of the deal, shall now be the official global tyre partner for “Man-U”, as they say, the agreement added.

Apollo Tyres Chief Marketing Officer Marco Paracciani said that they believed that the global partnership would further aid them position their brand and the products in the minds of the consumers across the globe, in addition to being significantly visible to the 659 million fans of the football club.

He added that the 3-year association with Manchester United Football Club has supported and boosted the company's business expansion plans especially in India, South East Asia, Middle East and Africa.

The company's 3 years of regional association with the club, which began with India and the UK in August 2013, was later expanded to over 100 countries.

Apollo Tyres share price history

Analyzed amongst the top 500 performing stocks by Dynamic Levels, Apollo Tyres share price is quoting above 2% at Rs. 213.20. The stock opened at Rs. 209.50 against its previous close at Rs. 207.75. After the commencement of today’s trade, till now around 16,52,808 shares exchanged hands having a traded value of Rs.3,523.13 lacs, as per NSE. The upper price band of the stock is seen at Rs. 228.50 whereas the lower price band is seen at Rs.187.

For four consecutive days Apollo Tyres share price traded on its 52 week high value. On 6th Sept share price traded at Rs.203.90 beating its previous one-year high. On7th again, it repeated the feat by trading at Rs.207.55.  The stock went as high as Rs. 210.40, breaking its previous day’s record high on 8thSept. As of now, the stock traded at a new high of Rs.215.90. The company has a market cap amounting to Rs. 10574.99 (Cr).