TYRE FIRM
![Corporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week](https://img.etimg.com/thumb/msid-111393300,width-100,height-75,resizemode-4/markets/stocks/news/corporate-watch-mm-tata-comm-among-36-stocks-in-spotlight-this-week.jpg)
Corporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week
Welspun Enterprises and DJ Mediaprint declared dividends with ex-dates on July 5. Escorts Kubota also set July 5 as the ex-date for dividend issuance. Several other companies like Tide Water, SKF India, and Balaji Amines have dividend and ex-date announcements in the same week.
![Nifty rides with bulls, can hit 24,600: Analysts](https://img.etimg.com/thumb/msid-111390387,width-100,height-75,resizemode-4/markets/stocks/news/nifty-rides-with-bulls-can-hit-24600-analysts.jpg)
Nifty rides with bulls, can hit 24,600: Analysts
Stocks expected to show bullishness include Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Apollo Tyres, Tata Motors, and BEL. Consider a moderately bullish strategy using a Bull-Call Spread for the July 4 weekly expiry.
![Global tyre makers accelerate make-in-India plans, buoyed by govt's PLI scheme](https://img.etimg.com/thumb/msid-111288647,width-100,height-75,resizemode-4/industry/auto/tyres/global-tyre-makers-accelerate-make-in-india-plans-buoyed-by-govts-pli-scheme.jpg)
Global tyre makers accelerate make-in-India plans, buoyed by govt's PLI scheme
Global tyre giants Michelin, Bridgestone, and Goodyear, along with potential investors Yokohama and Birla Tyre, are set to invest around Rs 3,000 crore in India's manufacturing sector under a government scheme linking imports to local investment. This initiative, aimed at boosting domestic production, follows the Centre’s import restrictions.
![ESR acquires additional 27 acres in Chennai’s Oragadam to expand industrial park](https://img.etimg.com/thumb/msid-111063147,width-100,height-75,resizemode-4/industry/services/property-/-cstruction/esr-acquires-additional-27-acres-in-chennais-oragadam-to-expand-industrial-park.jpg)
ESR acquires additional 27 acres in Chennai’s Oragadam to expand industrial park
ESR Group, focusing on real estate services and investment in the Asia Pacific region, has expanded its industrial and logistics park in Chennai’s Oragadam by acquiring an additional 27 acres of land. This brings the total area of ESR Oragadam Industrial & Logistics Park to 107 acres, with plans to develop 2.5 million sq ft. The Hong Kong-listed company will invest over Rs 276 crores for construction, including land costs.
![Warburg Pincus exits Apollo Tyres by offloading Rs 1,072 crore worth stake](https://img.etimg.com/thumb/msid-110338531,width-100,height-75,resizemode-4/markets/stocks/news/warburg-pincus-exits-apollo-tyres-by-offloading-rs-1072-crore-worth-stake.jpg)
Warburg Pincus exits Apollo Tyres by offloading Rs 1,072 crore worth stake
The leading global PE firm offloaded about 3.5% stake or 2.24 crore shares. Goldman Sachs, Morgan Stabley, Mirae Asset MF, Societe Generale, Citigroup, ICICI Pru MF bought stakes. Mutual funds have a significant 16.77% stake and foreign investors hold about 17.61% stake as of March 2024.
![Warburg Pincus arm likely to sell 3.5% stake in Apollo Tyres](https://img.etimg.com/thumb/msid-110310460,width-100,height-75,resizemode-4/markets/stocks/news/warburg-pincus-to-sell-3-5-stake-in-apollo-tyres.jpg)
Warburg Pincus arm likely to sell 3.5% stake in Apollo Tyres
Warburg Pincus subsidiary White Iris Investment is likely to sell a 3.5% stake in Apollo Tyres on Wednesday. It aims to raise Rs 1,040 crore. The deal size is 2.24 crore shares.
- Go To Page 1
Apollo Tyres shares jump 7% post Q4 results. Should you buy or sell?
Apollo Tyres' shares rose by 7% to Rs 508 in Thursday's trading session on the BSE, despite the company posting modest financial results for the March quarter of FY24. Although the firm reported a 13.7% year-on-year (YoY) decrease in net profit, amounting to Rs 354 crore compared to Rs 410.3 crore in the same quarter last year, brokerage firms maintained a largely optimistic outlook on the stock.
Hot Stocks: Brokerages view on Adani Ports, Apollo Tyres; HSBC downgrades Colgate
Brokerage firm Jefferies maintained an underperform rating on Dixon Technologies, Nomura upgraded Apollo Tyres to neutral, Jefferies recommend buy on Adani Ports and HSBC downgraded Colgate to hold.
Hot Stocks: Brokerage view on Siemens, Bharti Airtel, Apollo Tyres and Shree Cement
Brokerage firm Macquarie retained a neutral rating on Shree Cement, while JPMorgan maintained a neutral rating on Apollo Tyres. UBS also upheld a neutral rating on Bharti Airtel, and Jefferies recommended a buy rating on Siemens.
Damani & Jhunjhunwala emerge as richer dons of D-Street when most lost crores in Q4
The Jhunjhunwala family's wealth in listed firms crossed the ₹50,000 crore mark for the first time in the March quarter, while about 17 individuals held portfolios worth over ₹1,000 crore as of March 31, 2024.
NDR Warehousing leases 4 lakh sq ft to a tyre firm in Pune Park
NDR Warehousing has leased 4 lakh sq ft of space in its upcoming logistic park in Pune to a Chennai-based tyre company. The project is part of NDR Warehousing's expansion plan, with plans for over 80 acres in Pune, indicating potential for an additional 1.8 million sq ft of industrial and warehousing space. The new facility, constructed in just 7 months, has a warehouse area of approximately 0.4 million sq ft and is part of NDR Warehousing's future growth plans.
Hot Stocks: Brokerage view on HDFC AMC, IDFC First, Apollo Tyres and Varun Beverages
Morgan Stanley began covering Varun Beverages with an overweight rating, while it upheld an Equal Weight rating on Apollo Tyres. Jefferies reaffirmed a buy rating on IDFC First, whereas JPMorgan upgraded HDFC AMC to overweight.
Shares of tyre companies decline on surge in raw material prices
JK Tyre fell 4.35% on Tuesday while MRF Tyres and Goodyear India declined 3.32% and 2.39% respectively. Apollo moved down 0.59% while CEAT and Bridegstone were up by 0.44% and 2.74% respectively. Benchmark Nifty slumped over 1%, while Nifty Auto Index fell 0.45%.
BCCI sells four IPL sponsorship slots for Rs 1,485 crore
The board managed to sell three of the six associate partnership slots on offer to fantasy sports platform My11Circle, payment service system RuPay, and online stock trading firm Angel One, one of the people quoted above said on condition of anonymity.
Construction, PV segments to boost tyre industry: JK Tyre CMD Raghupati Singhania
To ride on the momentum, the market leader in truck and bus radial tires is embarking on an expansion. It has planned a capital expenditure of Rs 1,100 crore towards capacity expansion as well as maintenance of the existing infrastructure over the next two years.
Stocks in news: Embassy REIT, Nippon AMC, BPCL, Apollo Tyres
Global private equity firm Blackstone Group plans to sell its entire stake in Embassy Office Parks REIT through a mega block deal on Wednesday, according to news reports
Apollo Tyres shares climb over 6% after Q2 profit soars over 2.5 fold to Rs 474 crore
The company said the cost of materials consumed was lower at Rs 2,634.92 crore in the second quarter of the ongoing fiscal as against Rs 3,101.56 crore in the year-ago period.
Making home abroad: Hybrid work for corporate honchos means moving to London, Dubai & Singapore
Key reasons stoking this trend include better infrastructure, quality of life, wealth preservation and growth. Many of these promoters told ET on the condition of anonymity that India is important as a growth market, but many countries outside offer ease of living.
Sensex, Nifty join global rally as Fed adopts dovish policy stance; investors earn Rs 3.1 lakh crore
After two straight sessions of losses, The NSE Nifty 50 index settled 0.76% higher at 19,133, while the S&P BSE Sensex surges 490 pts or 0.77% to 64,091. All sectoral indices closed higher. Nifty Realty surged 2.5% and was the top sectoral gainer, while Nifty PSU Bank, Metal, FMCG and Healthcare surged 1% each.
JK Tyre shares zoom 14% as Q2 profit increases five-fold to Rs 249 crore
The tyre maker also approved an investment of Rs 1,025 crore for manufacturing capacity expansion. The expansion is proposed to be funded by way of equity/internal accruals and debt.
Bankruptcy court approves Himadri-Dalmia plan for Birla Tyres
The bankruptcy court has approved the proposal for Himadri Speciality Chemical and Dalmia Bharat Refractories to acquire Birla Tyres. The company has admitted liabilities of over '1,662 crore. The consortium plans to focus on niche spaces such as electric vehicle (EV) and specialty tyres. They also aim to achieve forward integration for their business and explore the use of clean and green power for Birla Tyres' power requirements.
TVS Srichakra to acquire US-based firm; to grow off-highway tyre biz
The company's board of directors approved the formation of a subsidiary in the United States market ahead of the acquisition plan. Super Grip Corporation, established in 1984, is engaged in manufacturing of high-quality tyres for the industrial tyre market. "We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally," TVS Srichakra Ltd Director S Ravichandran said in a company statement
Birla Tyres shares to delist from exchanges after NCLT nod to resolution plan
Birla Tyres has been in the business of manufacturing tyres for 25 years. It earlier had a collaboration with Italian tyre manufacturer Pirelli. The company was demerged from the group's flagship firm Kesoram Industries in 2018.
Birla Tyres insolvency: NCLT approves joint offer of Himadri Speciality Chemical, Dalmia Bharat Refractories
In a regulatory filing, Himadri Speciality Chemical informed that the NCLT, Kolkata Bench has "now approved verbally the resolution plan submitted jointly by the company (strategic partner) and Dalmia Bharat Refractories Ltd (resolution applicant) for acquisition of Birla Tyres Limited under the corporate insolvency resolution process (CIRP) in terms of the Insolvency and Bankruptcy Code, 2016 (IBC)."
Q2 results season kicks off this week. 32 companies may report over 100% profit growth
Domestic cyclicals like banks, auto and capital goods are likely to lead earnings growth while healthcare and technology may clock a moderate earnings growth. Motilal Oswal sees Nifty earnings growing by 21% YoY in Q2 while Kotak Equities has predicted 23% growth.
As World Cup starts, ICC releases stringent advisories for brands
The International Cricket Council (ICC) has issued strict advisories and guidelines to prevent unauthorised associations with the ICC World Cup. The move comes as numerous brands across various sectors seek to leverage their association with the tournament. The ICC sponsors include Mastercard, Thums Up, and Dream11, among others
Apollo Tyres shares fall 3% as labour union dispute halts production at Gujarat plant
"The company is in discussions and negotiations with the labour union representatives to address their concerns and find an amicable resolution," Apollo Tyres said in an exchange filing.
Hot Stocks: Brokerages on Poly Medicure, Tata Motors, Apollo Tyres and Infosys
JPMorgan maintained a neutral rating on Tata Motors with a target price of Rs 635. JLR outperformed peers in the US and China but underperformed in the European region.
Dalmia Group submits revised debt resolution plan for Birla Tyres
A person familiar with the new plan told ET that group companies of Dalmia Bharat have offered to repay about ₹300 crore of the outstanding loans of Birla Tyres. This is said to be three times their original offer to creditors. Birla Tyres competes in the commercial vehicle and two-wheeler tyres segments.
Load More