Apollo Tyres turns volatile after Q1 earnings

Apollo Tyres rose 4.18% to Rs 188.30 at 14:20 IST on BSE after consolidated net profit rose 10.63% to Rs 314.69 crore on 16.10% increase in total income to Rs 3331.08 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during trading hours today, 9 August 2016.

Meanwhile, the BSE Sensex was down 114.77 points, or 0.41%, to 28,067.80.

On BSE, so far 15.58 lakh shares were traded in the counter, compared with average daily volume of 2.58 lakh shares in the past one quarter. Trading in the counter was volatile. The stock rose 5.12% at the day's high of Rs 190 so far during the day. The stock fell 2.46% at the day's low of Rs 176.30 so far during the day. The stock hit a 52-week high of Rs 216.80 on 7 August 2015. The stock hit a 52-week low of Rs 127.95 on 20 January 2016. The stock had outperformed the market over the past 30 days till 8 August 2016, rising 20.26% compared with 3.89% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.64% as against Sensex's 9.35% rise.

The mid-cap company has equity capital of Rs 50.90 crore. Face value per share is Re 1.

Apollo Tyres manufactures and sells tyres. The company has manufacturing units in India and The Netherlands. Its products are available in over 100 countries.

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