Apollo Tyres stock skids on cautious demand outlook2 min read . Updated: 07 Feb 2023, 12:49 PM IST
- Apollo Tyres continues to witness sluggish demand in key export markets of Europe due to the economic slowdown amid geopolitical tensions.
The stock of Apollo Tyres Ltd hit a new 52-week high of ₹343.50 on Friday, reacting to its robust December quarter (Q3FY23) earnings. Consolidated revenue at ₹6420 crore was ahead of analysts' estimates. But the mood among investors quickly turned sombre after the management indicated a cautious near-term demand outlook. On Tuesday, the stock declined by 3.10% intraday on the NSE.
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