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Apollo Tyres - BUY (Target: Rs84, Upside: 20.0%)
India Infoline Research Team / 10:05 , Mar 18, 2010

CMP: Rs70, Target: Rs84

±  Replacement demand and higher radialization of CV tyres to drive domestic performance
±  Foreign subsidiaries to gain from global economic recovery
±  Margin scenario is expected to improve
±  Initiate with a BUY rating on back of overall growth
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