MUMBAI: Shares of Apollo Tyres Ltd on Thursday jumped nearly 9% ahead of the board meeting on 17 April to consider fundraising through issuance of non-convertible debentures (NCDs) on a private placement basis.
Shares of Apollo Tyres soared as much as 8.98% to ₹95.90 on the BSE, while the benchmark Sensex lost 0.26%. The company proposes issuing NCDs within the limits approved by the board in the annual general meeting held on 31 July 2019.
Apollo Tyres also said its four plants in Kerala, Gujarat and Tamil Nadu will remain shut till 20 April as the nationwide lockdown to contain the spread of coronavirus has been extended.