HomeBusinessMultibagger tyre stock gives nearly 4 fold returns investors less than 3...

Multibagger tyre stock gives nearly 4 fold returns investors less than 3 years should you buy

In the Corona era, there are many such companies whose stock has made investors rich. One such company is tire maker Apollo Tires. During the Corona period, this company has increased the wealth of investors by almost 4 times. At the same time, ICICI Direct believes that the stock price will cross Rs 300 in the coming few days.

Share Status: The lockdown came into force in the country for the first time on March 25, 2020. Just a day before this, the share price of Apollo Tires was at the level of Rs 73, which has now crossed Rs 270. The stock has given 268.25% return during this period. At the same time, the market cap of the company is around Rs 17,201.71 crore. Apollo Tires’ 52-week high is Rs 303.40, while it has gone down to a low of Rs 165.40.

Performance after Muhurta Trading: According to ICICI Direct, the share price can go up to Rs 335 in this Muhurta trading on the occasion of Diwali. The shares of Apollo Tires have gained about 22 per cent so far as compared to the Muhurta trading held on November 4, 2021 last year.

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ICICI Direct has a buy call on Apollo Tires in the range of ₹260-275. This Diwali, Muhurta trading will take place on the evening of 24 October. At the same time, the company paid 325% dividend for FY 2022 at Rs 3.25 per share.

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