Apollo Shares up Following Lockout Reassurance

Following news of the lockout at Apollo’s Kerala, India-based facility, shares in the company fell by around six per cent, but management reassurances that the company would make up the production deficit elsewhere and 85 per cent of the Perambra workforce wanted to return to work have pushed share prices to levels experienced prior to the lockout, according to financial news sources.

The Perambra unit is important to the company, responsible as it is for just over a third of Apollo’s 1,000 tonnes/day production capacity, having enhanced its production to 340 tonnes recently, according to India Infoline.

Related News:

• Apollo Issues Statement on Perambra Lockout
• Apollo Shares Drop Following Lock-Out
• Apollo Tyres Commences Lockout at Perambra Factory