Business Standard

Apollo Tyres hits fresh 52-week low; analysts see more downside

Analysts say the move is a step in the right direction for improving corporate governance standards in India.

Apollo Tyres, two-wheelers, heavy vehicles

Despite being a late entrant, Apollo has cornered around 25 per cent of the market in the truck and bus category.

Swati Verma New Delhi
Shares of Apollo Tyres hit a fresh 52-week low on Friday on reports that the minority shareholders of the company have rejected the re-appointment of Neeraj Kanwar as the managing director (MD).

“Apollo Tyres’ board of directors will discuss the resolution in the next meeting and determine the course of action with respect to it. The company would like to reiterate that it is the vision and resolve of the company, and its senior leadership, to deliver value to all its stakeholders including employees, shareholders, customers, partners, and other relevant communities, “the company had said in a statement to the

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First Published: Sep 28 2018 | 11:47 AM IST

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