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.
Apollo Tyres raced ahead again on Monday after showing a 146% jump in net profit Friday.
Threaten similar action on competitors if tyre prices aren't cut.
Apollo Tyres Ltd suspended operations at its automobile tube manufacturing plant at Ranjangaon in Pune district due to labour problems.
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.
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 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.
Apollo tyres lines up Rs 1,160 cr investment to set up manufacturing unit in Hungary to produce passenger car radials.
Today, Apollo Tyres is the first made-in India automotive brand to be sold in Europe independently.
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.
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 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.
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.
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.
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.
The BCCI on Monday invited bids for the title sponsorship rights for its domestic and international home events, with the current agreement with IDFC FIRST Bank nearing the end of its tenure.
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).
Amazon CEO Andy Jassy announced an additional USD 13 billion investment in India, bringing the company's total capital commitment to USD 48 billion by 2030. This significant investment will primarily focus on expanding AI and cloud infrastructure, supporting job creation, boosting e-commerce exports, and digitising small businesses, aligning with India's growing digital economy.
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.
Thousands in Manipur defy curfew to protest the bombing that killed two children, leading to clashes with security forces and widespread unrest.
Apollo Tyres has convened an extraordinary general meeting on December 15 at Kochi to seek approval for technical alliance with Michelin group of France to manufacture dual-branded radial truck and bus tyres.
Fifteen kids were awarded scholarships after a month-long selection process for the Mission 2018 programme.
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.
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.
Between 2011 and 2014, they indirectly determined the price of tyres in the market, says report
Apollo overtakes MRF to be the largest tyre maker.
Indian tyre makers are expanding their capacities in the wake of international players flooding the Indian markets.
Apollo Tyres' $100 million project in joint venture with Michelin would begin production from early 2006, its chairman and managing director Onkar S Kanwar on Tuesday said.
Apollo and Cooper are yet to make the customary rounds of courts to settle termination charges and break-up fees, but the mood already is buoyant among institutional investors who had red-flagged the highly leveraged transaction agreed upon by the Indian company.
With the 51:49 joint venture Michelin Apollo Tyres failing to take off, the France-based Michelin, the world's second largest tyremaker, is planning to set up its own truck and bus radial manufacturing facility in Ranjangaon, Pune.
