Apollo Tyres rides into green

Apollo Tyres is currently the top gainer on the BSE, up 8% at Rs.91.35, with an intra day high at Rs.92.20. Volumes are up 1.5 times.

The stock has zoomed up after the Delaware Supreme Court dismissed Cooper’s appeal against an earlier ruling against Apollo was meeting its obligations to reach new contract terms with unions at Cooper plants in Ohio and Texas. Under the terms of the merger Apollo can walk away from the deal on December 31.