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Apollo Tyres share price: Hold Apollo Tyres, target price Rs 436: ICICI Securities

Apollo Tyres is trading at ~15x FY25E earnings vs ~7% EPS CAGR during FY24E-FY26E. As against ~6% India volume CAGR over FY24-26E, we expect India EBITDAM/FCF/RoCE to remain steady during the same period, with business remaining exposed to the mean reversion in GM. ....

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