Apollo Tyres Ltd updates on Netherlands subsidiary

The management and the Works Council (WC) of Apollo Vredestein B.V. (AVBV), Apollo Tyres Ltd's Netherlands based subsidiary, have reached an agreement on the specialization of the factory in Enschede marking the conclusion of consultation process.

Under the agreement, AVBV will retain 737 job positions (against the initial 1265) and continue to focus on high value segment passenger car tyres and its earlier capacity for Agricultural & Spacemaster tyres.

Shares of APOLLO TYRES LTD. was last trading in BSE at Rs.114 as compared to the previous close of Rs. 113.2. The total number of shares traded during the day was 121669 in over 1001 trades.

The stock hit an intraday high of Rs. 115.2 and intraday low of 112.35. The net turnover during the day was Rs. 13811682.

Source : Equity Bulls

Keywords