Buy Apollo Tyres With Target Of Rs 81

Buy Apollo Tyres With Target Of Rs 81Stock market analyst Salil Sharma has maintained 'buy' rating on Apollo Tyres Ltd stock with target that lies between Rs 74-81.

According to analyst, the interested investors can buy the stock with stop loss of Rs 63.

The stock of the company, on August 18, closed at Rs 69.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 82.55 and a low of Rs 39.30 on BSE.

Current EPS & P/E ratio stood at 7.16 and 9.56 respectively.

Apollo is all set to make an investment of Rs 300 crore in its Green field Chennai facility in the existing year with the aim to boost its strengthen its production capacitance.

The company aims to make this facility as the most effective, high-tech as well as productive in Asian region.

Besides, the company would also invest Rs 1100 crore to boost up its infrastructure in its 9 facilities and expects to strengthen its biz across Asia.

In 2010-11, the overall capacity of the company's Indian facility will hit 1450 tonnes, whereas its South African and European facilities will add around 200 tonnes.

The company's consolidated revenue for April-June quarter, considering Apollo Tyres' Indian and International functiongs ibcreased by 11% to hit net sales worth Rs 1821 crore as against the same period of 2009 during which it made Rs 1635 crore.