Buy Apollo Tyres; target of Rs. 210: Sharekhan.

'In Q4FY2014, Apollo Tyres (Apollo) reported a strong operational performance both in the domestic and European operations, riding on the benefit of lower natural rubber prices. A lower tax rate, especially on the domestic operations, added to the bottom line, aiding in more than doubling the consolidated net profit to Rs. 271 crore. Despite a weak market condition, Apollo has managed to gain market share in the domestic replacement market. Additionally, the European operations continue to do well and the large greenfield capacity expansion in Eastern Europe will cater to the long-term growth in Europe (FY2018 onwards).'

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