Money Maker Research & Investment Advisor: Apollo Tyre to invest Rs. 1,800 cr for Greenfield plant in A.P

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Tuesday, 9 January 2018

Apollo Tyre to invest Rs. 1,800 cr for Greenfield plant in A.P

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Leading tyre manufacturer Apollo Tyres Limited announced that it plans to invest Rs. 1800 crore for setting up a Greenfield plant at Andhra Pradesh. The announcement was made during the foundation-stone-laying ceremony of Apollo Tyres’ global scale mfg facility on Tuesday, 9 January.

Apollo Tyres has bought 200 acres land from the Andhra Pradesh govt for this development. The construction will commence within the next 6 months, and the tyres are likely to start rolling out from this facility in the following 2 years.

Presently, Apollo Tyre has four production plants, of these two are in Kerala and one in Gujarat and another one in Tamil Nadu. This novel planned facility of Apollo Tyres Limited is located in Chinnapanduru village, Chittoor district, in Andhra Pradesh.

The stock of Apollo Tyre Limited open on Tuesday’s trade at Rs. 283 and touched day's high of Rs. 288.7, up 1.7% from the previous close of Rs. 283.80. The stock closed at Rs. 284.95, up by Rs. 1.25 or 0.44 per cent at NSE.

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