PTL Enterprises Ltd to buy shares of Apollo Tyres Ltd for Rs. 50 crore

The Committee of Directors (Investments / Loans) of PTL Enterprises Ltd in its meeting held on August 2, 2021, has approved the proposal to invest an amount not exceeding Rs. 50 Crore (Fifty Crore only) in addition to the earlier authorizations, in the equity shares of Apollo Tyres Limited ('ATL') through open market in one or more tranches.

The board also approved proposal to borrow an amount not exceeding Rs. 40 Crore (Forty Crore Only) in addition to the earlier authorizations, to invest in the equity shares of the ATL.

Shares of PTL Enterprises Ltd was last trading in BSE at Rs. 53.8 as compared to the previous close of Rs. 52.7. The total number of shares traded during the day was 29851 in over 448 trades.

The stock hit an intraday high of Rs. 54.8 and intraday low of 52.75. The net turnover during the day was Rs. 1602850.

Source : Equity Bulls

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