Apollo Tyres on Tuesday (14 April) announced that its board will meet on 17 April 2020 to consider issuing non-convertible debentures (NCDs) through private placement.
Apollo Tyres is proposing to issue NCDs through private placement within the limits approved by the members in the annual general meeting held on 31 July 2019.Apollo Tyres' consolidated net profit dropped 29.12% to Rs 173.86 crore on a 6.62% decline in net sales to Rs 4,347.16 crore in Q3 December 2019 over Q3 December 2018.
Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary.
Shares of Apollo Tyres slipped 4.23% to end at Rs 85.95 on Monday, 13 April 2020.
The BSE & NSE are shut today, 14 April 2020 on account of Ambedkar Jayanti.
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