Apollo Tyres rose 1.96% to Rs 39 at 11:44 IST on BSE, on reports HDFC Standard Life Insurance has acquired an additional 0.62% stake in the company.
The stock hit a high of Rs 40 and a low of Rs 38.20 so far during the day. The stock has a 52-week high of Rs 62.90 on 2 January 2008 and a 52-week low of Rs 27.75 on 2 July 2008.
The company’s current equity is Rs 50.40. Face value per share is Rs 1.
The current price of Rs 39 discounts Q1 June 2008 annualized EPS of Rs 3.86, by a PE multiple of 10.23.
After this acquisition, HDFC Standard Life Insurance’s holding has gone up to 5.04% in the company.
Apollo Tyres’ net profit rose 4% to Rs 48.63 crore on 23.1% increase in net sales to Rs 1075.86 crore in Q1 June 2008 over Q1 June 2007.
Apollo Tyres has four manufacturing units in India, two in South Africa and two in Zimbabwe.
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