Apollo Tyres slides after declaring Q1 result

Apollo Tyres lost 6.05% to Rs 174 at 14:35 IST on BSE, with the stock declining on profit booking after declaring Q1 result during market hours today, 6 August 2014.

Meanwhile, the BSE Sensex was down 69.95 points, or 0.27%, to 25,838.06

On BSE, so far 18.19 lakh shares were traded in the counter, compared with an average volume of 5.26 lakh shares in the past one quarter.

The stock hit a high of Rs 189.90 and a low of Rs 172.80 so far during the day. The stock hit a record high of Rs 214.80 on 7 July 2014. The stock hit a 52-week low of Rs 59.55 on 28 August 2013.

The stock had underperformed the market over the past one month till 5 August 2014, falling 12.52% compared with 0.21% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 12.34% as against Sensex's 15.43% rise.

The large-cap company has an equity capital of Rs 50.40 crore. Face value per share is Re 1.

Shares of Apollo Tyres witnessed pre-result rally, gaining 9.84% in two trading days to Rs 185.20 on 5 August 2014 from recent low of Rs 168.60 on 1 August 2014.

Apollo Tyres' consolidated net profit increased 37.35% to Rs 227.94 crore on 2.36% growth in total income to Rs 3276.53 crore in Q1 June 2014 over Q1 June 2013.

Apollo Tyres manufactures tyres and tubes for cars, trucks, farm equipment and light commercial vehicles. The company also manufactures automobile flaps and retreading materials.

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