{"id":124653,"date":"2024-05-22T14:59:27","date_gmt":"2024-05-22T09:29:27","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=124653"},"modified":"2024-05-22T15:21:38","modified_gmt":"2024-05-22T09:51:38","slug":"tyre-stock-jumps-6-despite-fii-likely-to-sell-2-24-cr-equity-shares-of-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/tyre-stock-jumps-6-despite-fii-likely-to-sell-2-24-cr-equity-shares-of-the-company\/","title":{"rendered":"Tyre stock jumps 6% despite FII likely to sell 2.24 Cr equity shares of the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2641292454\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of the leading tyre manufacturers gained up to 6 percent despite White Iris Investment&#8217;s likely to sell 2.24 crore equity shares of the company in the block deal to raise Rs 1,040 crore.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1258315367\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 31,151.70 crore, the shares of <strong>Apollo Tyres Ltd<\/strong> were trading at Rs 490.50 per share, increasing around 1.73 percent as compared to the previous closing of Rs 482.15 apiece\u00a0<\/p><p><strong>As of March 2024, White Iris Investment, a subsidiary of Warburg Pincus holds 2.24 crore equity shares which are equivalent to 3.54 percent of the company, however, White Iris Investment is likely to sell 2.24 crore equity shares of the company in the block deal to raise Rs 1,040 crore.&nbsp;<\/strong><\/p><p>Moreover, in December, White Iris Investment sold a 4.5 percent stake in Apollo Tyres for Rs 1,281 crore through multiple block deals.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-258484135\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Looking into Apollo Tyres Ltd\u2019s performance, revenue increased by 0.17 percent from Rs 6,247 crore in Q3 FY23 to Rs 6,258 crore in Q3 FY24. During the same period, net profit decreased by 14 percent, from Rs 410 crore to Rs 354 crore.&nbsp;<\/p><p>The company&#8217;s product line comprises passenger cars, SUVs, MUVs, light trucks, truck-buses, two-wheelers, agriculture, industrial, specialty, bicycle, and off-road tyres, as well as retreading material and tyres. It serves more than 100 countries through 181 offices and six production facilities, four in India and one each in the Netherlands and Hungary.&nbsp;<\/p><p>Apollo Tyre operates in only one business segment: automotive tires, automobile tubes, and automobile flaps. In terms of geographical segmentation, APMEA (Asia Pacific, Middle East, and Africa) accounts for 68%, Europe for 28%, and others for 4%.&nbsp;<\/p><p>Apollo Tyres Limited manufactures and sells vehicle tires. The company operates in the vehicle tires, tubes, and flaps industry. The geographical categories include Asia Pacific, Middle East and Africa (APMEA), Europe, and Others.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by:- Abhishek Singh&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3757073964\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of the leading tyre manufacturers gained up to 6 percent despite White Iris Investment&#8217;s likely to sell 2.24 crore equity shares of the company in the block deal to raise Rs 1,040 crore.&nbsp; With a market capitalization of Rs 31,151.70 crore, the shares of Apollo Tyres Ltd were trading at Rs 490.50 per [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":41068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[18409,10687,10686,948,936,3157,2597,15246],"class_list":["post-124653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates","tag-apollo-tyres","tag-apollo-tyres-latest-news","tag-apollo-tyres-share-price","tag-stock-market","tag-stock-market-news","tag-stock-to-watch","tag-stocks-to-watch","tag-why-is-apollo-tyres-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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