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.