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Promoters held 60.51 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 11.28 per cent and 0.86 per cent, respectively.

According to the company management, the net proceeds will be utilized towards expanding its retail business by opening up to 130 exclusive brand outlets.

Financial prudence calls for being emergency ready and Covid-19 heightened the importance of having a sizeable emergency corpus. The corpus should be equivalent to at least a year’s expense.

“A risk-off trade at play and now what really will generate significant value is the capitulation pace where those investors who are still holding on in the hope that there will be a turnaround for people will basically to come to the market and sell. That is the set up of this market as we stand.”

Stocks that were in focus included names like Hindustan Copper which fell more than 9 per cent, Minda Industries which fell more than a per cent, and Tata Power which closed with losses of over 7 per cent on Monday.

"The asset allocation strategy is to be linked to the risk profile of the individual. However, in the case of a moderately aggressive risk profile or investor, at the current market levels, equities may be around 60 % and the rest in very short-term debt with an option to re-deploy another 20 % of very short debt into equity over the next two to three months."

“Industrials, capital goods, engineering, real estate and real estate ancillaries, auto and auto ancillaries are the spaces where prices are still reasonable. The market can go up and down in the next two-three months. In the next couple of months, things may be difficult but for the Indian economy, the numbers look very solid.”

“There is no hurry in this market. I think wait and watch but I would say we are not far away from the bottom, because there is one silver lining to all this that India is importing most of its inflation and it is a very imported commodity dependent market. If the prices are falling, this is good for the country.”

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 11234.94 Crore) operating in Tyres sector.

"With this reorganization, we would like to enable both these businesses with independence to pursue their individual growth trajectories so that they are unencumbered in their pursuit to create value for their key stakeholders – customers, NIITians and investors. Each business has a remarkable opportunity to grow and be a leader in their space. "