Stock market analyst Ashwani Gujral has maintained 'buy' rating on Apollo Tyres Ltd stock with short term target of Rs 104.

According to analyst, the interested investors can buy the stock with stop loss of Rs 80.

The stock of the company, on Sep 06, closed at Rs 85.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 88.80 and a low of Rs 43 on BSE.

Current EPS & P/E ratio stood at 7.16 and 11.95 respectively.

As per recent reports, the country's leading tyre companies will hike the rates of their products so that their income margins would not suffer due to high commodity costs.

The report said that Apollo Tyres, MRF, JK Tyres and Ceat have also increased the prices of the products by more than 15-20% this year.

On Aug 25, Apollo Tyres Ltd has started production at its Perambra plant in Kerala after the company's board and the unions cleared up all the issues through a deal.

The strike, which commenced on June 11, finished on August 21, 2010.

Under the deal signed between the two sides, the company will appoint 200 workers and increase the monthly wages of its workers.