Apollo Tyres catches speed on launching premium tyre brand ‘Vredestein’

Apollo Tyres is currently trading at Rs. 223.30, up by 2.15 points or 0.97% from its previous closing of Rs. 221.15 on the BSE.

The scrip opened at Rs. 223.00 and has touched a high and low of Rs. 224.50 and Rs. 214.70 respectively. So far 234355 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 261.20 on 04-Mar-2021 and a 52 week low of Rs. 137.70 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 250.00 and Rs. 218.70 respectively. The current market cap of the company is Rs. 14111.94 crore.

The promoters holding in the company stood at 37.34%, while Institutions and Non-Institutions held 40.09% and 22.57% respectively.

Apollo Tyres has launched premium European tyre brand ‘Vredestein’ in India. The Vredestein brand of tyres will be manufactured at the state-of-the-art facilities in India, and will cater to the premium and luxury segment in passenger cars, while the two-wheeler tyres from the brand would cater to the growing superbiking segment in India.

Vredestein brand, known for its designer and high-quality tyres, is entering India with tyres sizes of 15 inch to 20 inch in the passenger vehicle segment. While Vredestein Ultrac Vorti would cater to the premium luxury sedans like Mercedes, BMW, Audi, Land Rover and Volvo, Vredestein Ultrac would cater to the premium hatchback and sedans like Honda City, Maruti Suzuki Ciaz and Baleno. The two-wheeler tyres from Vredestein, Centauro NS and ST, will cater to the entire sport touring and super sports range of motorcycles like BMW, Ducati, Aprilia, Triumph, Kawasaki, Suzuki, Honda and Yamaha.

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