Apollo Tyres Ltd (APLO.NS)
|Market Cap (Mil.):||Rs31,864.95|
|Shares Outstanding (Mil.):||509.02|
MUMBAI/NEW DELHI - Apollo Tyres lost a third of its market value over two days as investors fretted over the debt it will take on to fund its $2.5-billion acquisition of U.S.-based Cooper Tire & Rubber Co.
* BSE index gains 1.86 pct; NSE ends 1.92 pct higher * Reliance Industries gains on reserve hopes * Apollo Tyres fails to stem stock slide on Cooper deal By Abhishek Vishnoi MUMBAI, June 14 - Indian shares snapped a three-session losing streak to gain nearly 2 percent on Friday, after Reliance Industries surged on hopes one of its blocks held higher gas reserves while lenders rallied after easing wholesale inflation raised hopes of a rate cut. Shares also tracked a
* "There's hardly any risk" -Apollo managing director (Adds comments from management, analyst, updates share movement)
NEW DELHI, June 14 - India's Apollo Tyres Ltd is not currently looking at converting into equity some of the debt it will take to finance its $2.5 billion deal to buy U.S.-based Cooper Tire & Rubber Co, Chief Financial Officer Sunam Sarkar said.
MUMBAI, June 14 - India's Apollo Tyres Ltd fell as much as 8.7 percent on Friday to its lowest in about 1-1/2 years on continued concerns about a rise in its debt levels due to its $2.5 billion acquisition deal for Cooper Tire & Rubber Co.
* Shares in Apollo Tyres Ltd fall 1.7 percent, reversing earlier gains of as much as 6.2 percent, as selling resumed on continued concerns about debt levels after its announcement this week of a $2.5 billion deal to buy U.S.-based Cooper Tire & Rubber Co. * Apollo shares fell 25.5 percent in the previous session, after announcing the deal after market close on Wednesday. * Apollo will fully fund the purchase through new debt, raising the post-acquisition leverage for the combined entity to 3.8
MUMBAI - The BSE Sensex, Nifty fell for a third consecutive session on Thursday to close at their lowest level since April 17, after Apollo Tyres slumped as its $2.5 billion acquisition of Cooper Tire raised concerns about debt levels, while Sun Pharma fell after settling a patent suit with Pfizer for $550 million.
MUMBAI - Shares in Apollo Tyres Ltd fell sharply on Thursday after a $2.5 billion deal to buy U.S.-based Cooper Tire & Rubber Co raised concerns about the company's debt.
MUMBAI, June 13 - Indian shares fell for a third consecutive session on Thursday to close at their lowest since April 17, after Apollo Tyres slumped as its $2.5 billion acquisition raised concerns about its debt levels, while Sun Pharma dropped after settling a patent suit with Pfizer for $550 million.
* Shares fall as much as 20.8 pct after $2.5 billion Cooper deal