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Apollo Tyres trades flat after Kerala floods disrupt production

One of India’s biggest tyre manufacturers Apollo Tyres has literally hit rough weather. Heavy floods in Kerala have led to the production operations being disrupted in the company’s plants in Perambra and Kalamassery. In a BSE filing, the company stated that though the production loss due to the natural calamity is 1500 MT, the consequential loss of profit is not that significant.

Further, it added that the Gurugram-headquartered company’s insurance policy adequately covers natural calamities.

Apollo is the largest CV tyre manufacturer in India. Its total capacity is spread across four plants in India, one in Netherlands and one in Hungary. The company markets its products under two global brands – Apollo and Vredestein. Apollo also bought Germany-based Reifencom GmbH, one of the leading tyre retail organizations in Germany.

The stock is currently trading at Rs262.40 up by Rs0.7 or 0.27% from its previous closing of Rs261.70 on the BSE.

The scrip opened at Rs258.20 and has touched a high and low of Rs263.20 and Rs256.45 respectively. So far 23,68,968 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs14,970.55cr.

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