Apollo Tyres stock surges 2% after clarifying on reports of CCI investigation

31 Mar 2022 , 11:53 AM

Apollo Tyres Ltd stock gains nearly 2% on Thursday after releasing the statement clarifying regarding CCI inspection.

In a statement the company said, “This is in reference to the visit of officials from Competition Commission of India (CCI) to our premises dated March 30, 2022, we would like to place on record our official statement on the same.”

“We are fully cooperating with the anti-trust regulator’s investigation and have provided all the details required. We are of the firm view that we have acted and will continue to act in compliance with the competition laws.”

“We would like to reiterate that the Company follows the highest level of governance practices and operates within the letter and by spirit of the law”, it further added.

At around 11:54 AM, Apollo Tyres was trading at Rs191.90 apiece up by Rs3.5 or 1.86% against its previous closing of Rs188.40 apiece on the BSE.