Apollo Tyres Sinks 25% On Debt Concerns

Apollo Tyres Limited (BOM:500877) shares plunged 25 percent on Thursday amid rising debt concerns over a $2.5 billion deal to buy Cooper Tire & Rubber Company (NYSE:CTB).

The deal announced yesterday will help the Indian firm to gain access in the U.S., which is the world’s second-largest auto market after  China.

Apollo Tyres Shares

Apollo Tyres Limited (BOM:500877) shares ended today down 25.45 percent at 68.55 rupees.

The $2.5 billion deal will make Apollo Tyres Limited (BOM:500877) the seventh largest tire maker in the world. Apollo Tyres Limited (BOM:500877) and Cooper Tire & Rubber...