In this stock check, we look at the technical and fundamental outlook for the tyre major Apollo Tyres. The stock has surged over 58 percent in the last 1 year and almost 15 percent in 2024 YTD.
The price action was supported by strong volume action with traded volume reported over 19.72 lakh shares. Meanwhile, on the BSE the spurt in volume was a whopping 224 times. Momentum indicators RSI and MFI showed days levels at 64 and 65, respectively, according to Trendlyne data. Apollo Tyres shares are currently trading above their 50-day and 200-day simple moving averages (SMAs).
Apollo Tyres Share Price: Find the latest news on Apollo Tyres Stock Price. Get all the information on Apollo Tyres with historic price charts for NSE / BSE. Experts & Broker view also get the Apollo Tyres Ltd. buy/sell tips detailed news, announcements, Forecasts, Analysts, Valuation, Earning forecasts, Estimates, Recommendations, Analysts Ratings, financial report, company information, annual report, balance sheet, profit & loss account, results and more.
Apollo Tyres share price: The tyre stock slipped 6.80 per cent to hit a low of Rs 277.45 on NSE, erasing 4.3 per cent gains it witnessed in the previous session. On Wednesday, a total of 5.66 lakh Apollo Tyres shares changed hands on BSE.
Desi tyre maker in a fast lane, but analysts see many bad patches where it can skid
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Desi tyre maker in a fast lane, but analysts see many bad patches where it can skidBy
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Some analysts are still upbeat in their long-term outlook for the stock and project up to 59 per cent rise in a year’s time.
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NEW DELHI: Good quarterly numbers alone aren’t earning you a re-rating on Dalal Street. Analysts are more focused on the headwinds appearing on the horizon before upgrading a stock.
Apollo Tyres is one case, where despite solid March quarter numbers, which were above consensus estimates in terms of both revenues and margins, the stock is struggling to get a secular rerating.