Apollo Tyres has been locked in as the new jersey sponsor for the Indian cricket team following the exit of online game platform Dream11, a senior BCCI official told PTI on Tuesday.
The BCCI has secured a lucrative Rs 270 crore (Rs 2,700 million) sponsorship deal from Google's AI platform Gemini ahead of the 2026 Indian Premier League (IPL).
Shares of tyre manufacturers have outperformed broader equity benchmarks, buoyed by multiple tailwinds. Softer raw material prices, an uptick in demand from automakers following the reduction of the goods and services tax (GST) rates, and steady replacement demand have lifted sentiment toward the sector.
Apollo Tyres raced ahead again on Monday after showing a 146% jump in net profit Friday.
Apollo Tyres Ltd suspended operations at its automobile tube manufacturing plant at Ranjangaon in Pune district due to labour problems.
Threaten similar action on competitors if tyre prices aren't cut.
Apollo Tyres on Thursday said it is looking at laying off about 1,500 of its workforce.
The three-month old lockout at Apollo Tyres's unit at nearby Kalamassery has been lifted and the factory will start functioning from Friday.
Apollo Tyres Ltd on Monday announced acquisition of Dunlop Tyres International Ltd (South Africa) in a Rs 290 crore (Rs 2.9 billion) all-cash deal.
The solution works on the pricing and scheduling algorithms that define key parameters necessary for most efficiently matching the supply and demand of freight and trucks.
'The Indian developer community is one of the most vibrant communities.' 'Indian builders are incredibly passionate, curious, and excited to embrace new technologies.'
Today, Apollo Tyres is the first made-in India automotive brand to be sold in Europe independently.
Apollo Tyres refused to share the information sought by the All India Tennis Association regarding their Mission 2018 project.
Apollo Tyres on Monday decided to offer 14.9 per cent stake to Michelin for Rs 129 crore (Rs 1.29 billion) and to set up a joint venture, which would be 51 per cent owned by the French firm, while the former would have 49 per cent holding.
In another instance of labour unrest in the automobile sector, Apollo Tyres today announced a lockout at one of its factories, in Kerala's Thrissur district, resulting in an estimated daily loss of Rs 3 crore. This unit constitutes a fourth of Apollo's total daily output.
Apollo tyres lines up Rs 1,160 cr investment to set up manufacturing unit in Hungary to produce passenger car radials.
The market leader also cautioned that the tyre industry could be in red unless there is a substantial increase, a minimum of up to 10 per cent, in product prices.
Tyre maker Apollo Tyres is set to expand its operations through a greenfield project in Tamil Nadu at a cost of Rs 500 crore
The shareholding of Apollo Tyres Limited promoter Onkar S Kanwar will come down by 6.54 per cent to 37.33 per cent after preferential allotment of 14.90 per cent of the company's existing shares to French Tyre major Michelin Group.
The move comes after Neeraj Kanwar's reappointment as managing director was rejected by minority shareholders owing to his salary, which increased in spite of a fall in the company's profitability.
Apollo Tyres Ltd has posted a net profit of Rs 254.70 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 59.70 million in the quarter ended December 31,2001.
Oil marketing companies (OMCs), paint manufacturers, tyre producers, and aviation stocks witnessed significant gains as Brent crude oil prices slipped below $70 per barrel. The price drop came after a double blow: The US imposed tariffs on Canada and Mexico, including energy imports, and OPEC+ - the group of major oil-producing nations including Russia - announced an output increase of 138,000 barrels per day, the first such hike since 2022.
Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
Larger listed domestic-focused tyre companies have underperformed the benchmarks in the last three months but exporter Balkrishna Industries has bucked the trend. The company, which exports off-highway tyres, has generated 43 per cent returns in this time compared to MRF and Apollo Tyres, which are down 5-10 per cent. In addition to better-than-expected performance in the March quarter, exports and market share gains have helped Balkrishna pull ahead of peers.
Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
Tyre stocks have been on a tear over the past six months, with average returns exceeding 45 per cent. Except for Apollo Tyres, which has seen a slight correction in the last month and a half, limiting its gains to 16 per cent, listed peers such as MRF, CEAT Tyres (formerly Cavi Elettrici e Affini Torino), and JK Tyre & Industries have delivered returns exceeding 30 per cent during this period. Production-related constraints and sluggish demand in Europe, where sales are expected to remain flat, coupled with high valuations, have contributed to Apollo Tyres' underperformance. The tyre sector's gains can be attributed to robust growth trends driven by the replacement market, which constitutes more than two-thirds of sales.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres. In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Demand trends could remain muted in the near term, given the weak passenger vehicle replacement demand, assuming a typical replacement cycle of 3-5 years, and demand moderation in the OEM segment.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Manchester United's first team players, goalkeeper David De Gea, winger Anthony Elanga and midfielder Donny van de Beek will visit India on December 1 to kick-start activities related to the third edition of the club's grassroots level initiative.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
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