Apollo Tyres hits 52-week high on heavy volumes, surges 66% in 3 months

Analysts expect the revenue growth for Apollo Tyres to accelerate, as the truck OEM segment is on the path to recovery and the replacement segment remains robust

Shares of Apollo Tyres advanced 7 per cent to hit a fresh 52-week high of Rs 194.70 on the National Stock Exchange (NSE) on Friday on the back of heavy volumes. The stock surpassed its previous high of Rs 191.80, touched on December 3, 2020.

The trading volumes on the counter nearly doubled with a combined around 19 million equity shares changing hands on the NSE and BSE. In the past three months, Apollo Tyres' stock price has zoomed 67 per cent, as compared to 19 per cent rise in the Nifty50 index.

Analysts expect revenue growth for