the CMP is squeezing which indicates a good uptrend in the stock.
the delivery in stock is only 20% that is a concern for not expecting much in the stock.
Apollo Tyres reported a 270.5% year-on-year (y-o-y) increase in consolidated net profit of ₹289 crore for the quarter ending 31 March, as vehicle production returned to pre-covid levels in India and foreign markets.
The revenue from operations during the quarter improved by 38.99% y-o-y to ₹5,026 crore. The operating profit or before interest, tax, depreciation and amortization (Ebitda), also jumped by 69% y-o-y to ₹815 crore due to the overall improvement in sales and costing cutting measures taken by the company.
Despite swift recovery in sales, tyre manufacturers are expected to witness pressure on operating margins due to continuous increase in commodity prices.