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In its investor meet, Apollo Tyres said it will maintain its focus on improving return on capital employed (ROCE) and profitability, instead of solely pursuing market share growth. JM Financial retained its 'buy' tag and increased its target price by 8 percent to Rs 450 a share. Motilal Oswal Securities reiterated the 'buy' rating and increased its target price by 20 percent to Rs 500 a share. Nomura also retained its neutral rating on the stock and kept target price at Rs 386 from current market price. Meanwhile, India's benchmark Sensex gained 0.08 percent to 63,027 points.īrokerage firm Kotak Institutional Equities has maintained its 'sell' rating on the stock and target price at Rs 325 a share from current market price of Rs 416 a share. JM Financials and Motilal Oswal Securities, meanwhile, bumped up the target price up to 20 percent.Īt 1.26 pm, the stock was trading at Rs 404.35 on the BSE, down 2.8 percent from its previous close, thus plunging to its lowest in a month. Kotak Institutional Equities and Nomura have maintained ratings but their target price stands below their current market price.

Shares of Apollo Tyres Ltd opened marginally higher after analysts gave mixed reaction at an investor meet.

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