Apollo Tyres’ grip remains strong in Q1 on easing commodity prices

Apollo Tyres

In the India business, volumes were up a healthy 21 per cent over Q1FY22 and 7.5 per cent on a sequential basis The stock of Apollo Tyres was up 4 per cent on Wednesday -- to end the day at Rs 260.15 apiece -- on robust results for the June quarter of the 2022-23 financial year (Q1FY23). Expectations of sustained volume growth and margin tailwinds too supported the stock.

While most brokerages are positive on the growth front, they have a mixed view on valuations. Going ahead, its volume trajectory in the India business, given seasonality and the extent of margin recovery, will be key metrics the Street will watch out for.

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