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Sharekhan puts 'buy' on Apollo Tyres

23 Oct 09 07:31 PM
ET
Apollo Tyres reported good Q2 numbers on expansion of its operating profit margin and a lower-than-expected interest cost.

To factor in the higher- than-expected volume growth and better profitability, we revise our net profit estimates upwards for FY2010 and FY2011 by 5% and 17% respectively.