The Longest Ride.
Four – decade old Apollo Tyres is in a sticky situation. Struggling to regain the market’s favour after a $2.5 billion bid for Cooper Tire was punctured over a year ago and following a dismal third quarter performance in the recently concluded fiscal, the stock has taken a beating in the recent past. Urging its investors to hang on, the management continues to reassure them that not all is lost and that Apollo, much like its Greek namesake, would once again shine bright. In the larger scheme of things, the broader markets continue their upward trajectory, inching firmly past each new resistance zone. Intermittent bouts of volatility do ensue but the markets continue to trend higher, driven by pharma and consumer stocks that are in the limelight. Laggards like Apollo Tyres are often left biting the dust. Yet, Apollo harbours a secret, one that soon promises to reverse the stock spiral and take the company back to the glory of its heyday. Apollo Tyres and t