Apollo Tyres surges 6% post Sept quarter result; stock nears record high

The company reported a double digit growth in revenue, and ebitda in the September quarter despite challenging environment

Shares of Apollo Tyres hit a multi-year high of Rs 303.40 as it surged 6 per cent on the BSE in Tuesday's intra-day trade, in an otherwise subdued market, after the company reported a double digit growth in revenue, and earnings before interest, taxes, depreciation, and amortization (Ebitda) in the September quarter (Q2FY23) despite challenging environment.

At 12:11 pm, the stock was trading 4 per cent higher at Rs 297.65, as compared to 0.21 per cent decline in the S&P BSE Sensex. Trading volumes on the counter jumped nearly three-times with a combined 11.87 million shares having changed hands