One of the sources said the case was related to an antitrust investigation into the use of unfair trade practices and rigging of bids while supplying tyres for public transport vehicles in Haryana
India's antitrust body on Wednesday raided the offices of tyre companies including India's Ceat, Apollo Tyres and Germany's Continental AG in an alleged case of competition law violations
Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe
Tata Power has partnered with Apollo Tyres to deploy electric vehicle charging stations at the latter's commercial and passenger vehicle zones across India. Tata Power and Apollo Tyres have announced a strategic partnership in this regard, a statement said. Tata Power has a presence across all the segments of the EV charging ecosystem and has deployed all types of chargers DC 001, AC, Type2, Fast DC chargers up to 50kwh and up to 240kwh chargers for buses. "We are glad to partner with Apollo Tyres for the deployment of EV charging stations across their commercial & passenger vehicle zones. This partnership reflects our commitment to developing and expanding the electric vehicle ecosystem in the country," Praveer Sinha, CEO and MD of Tata Power, stated. Based on location, this classification of chargers will support EV charging for two-wheelers and four-wheelers, respectively. As per the agreement between Apollo Tyres and Tata Power, the latter will set up Charging Stations at 150
The CCI on Wednesday said Supreme Court dismissed a petition filed by tyre companies wherein they had challenged the regulator's order imposing penalties on them for anti-competitive practices
In a Q&A, the chairman of Apollo Tyres sees multiple growth triggers for the domestic industry ahead, but notes that relentless commodity inflation is the biggest pain point for companies
Firm produces over 2,200 metric tonnes of tyres daily at its seven units worldwide. With AWS, it is connecting all of its factories in the cloud this year in India and Europe
Firm says it needs 20-25 per cent price hike to offset increase in input costs
The homegrown tyre maker had reported a net loss of Rs 246 crore in the corresponding period last fiscal
Balkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021
The Religare Broking analyst also recommends buying Apollo Tyres
Revenue from operations for the quarter stood at Rs 4,584 crores, as against Rs 2,882 crore in the Q1 of 2020-21.
Eicher Motors' stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame
Street will watch out for capital allocation, deleveraging progress
India's tyre sector is seeking effective collaboration with raw material partners to harness its potential, industry body Automotive Tyre Manufacturers Association (ATMA) said.
Apollo Tyres on Thursday said it has received permission from the authorities to re-start operations at its manufacturing plant at Perambra in Kerala from May 21. On May 17, the company had informed about the closure of plant till May 23, 2021, pursuant to directives issued by the District Government authority. "The local authority has now permitted the company to operate the plant with effect from May 21,2021," Apollo Tyres said in a regulatory filing. Accordingly, the operations of the plant shall be resumed from Friday (May 21) by adhering to the standard operating procedures/ guidelines for industrial units as prescribed by the authorities, it added.
Tyre companies may not be able to fully pass on the surge in raw material costs
Apollo Tyres on Wednesday announced its foray into the truck and bus tyre segment in the US and Canada, following the launch of its passenger vehicle range in the two markets. The commercial vehicle range has been introduced under the Apollo brand although the PV (passenger vehicle) range was launched under the premium European brand, Vredestein last September, the company said in a statement. The north American range of truck and bus tyres will be produced at the company's manufacturing units in Hungary and Chennai, India. The tyre line-up will encompass a full range of regional, super-regional, coach/urban and mixed-use applications with fitments for rims ranging from 17.5 inches to 24.5 inches, it added. Apollo Tyres Assistant Vice President (Americas) Abhishek Bisht said, "Our market entry in North America is preceded by decades of global commercial vehicle tyre manufacturing and distribution expertise. We come to market positioned to make an immediate impact by offering a tier
The stock price has broken out on the daily line chart where it closed at highest level since March 12 with higher volumes
The strategy going forward is really to sweat our assets and get our utilisation levels to reach 90-95% in all our plants, said Kanwar