i Develop Stocks Advisory: Apollo Tyres lto invest Rs 10 bn for IT park in Kerala

Thursday, July 23, 2009

Apollo Tyres lto invest Rs 10 bn for IT park in Kerala

Apollo Tyres is planning to invest about Rs 10 billion for setting up an IT park and a hotel complex in Kerala.

There were plans to set up a five star hotel and IT park at the 30 acres land at nearby Kalamassery where it has a tyre unit.

The company had decided to shift the unit to the Rubber Park at nearby Irapuram. But due to strong objection from the trade unions, it had been held up.

The company said the unions have more or less agreed for shifting the factory.

Apollo Tyres is planning to double the capacity of the unit from 100 tons per day to 200 tons per day after it was shifted to the rubber park.

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GMT+5:30	Event	Vol.	Actual	Consensus	Previous
Tuesday, Jun 24
18:00	Current Account	1	$-450.2B	$-440.0B	$-303.9B
18:00	Chicago Fed National Activity Index	1			-0.25
18:25	Redbook Index (YoY)	1			5.2%
18:30	Housing Price Index (MoM)	2	-0.4%	0.1%	0.0%	Revised from -0.1%
18:30	S&P/Case-Shiller Home Price Indices (YoY)	1	3.4%	4.2%	4.1%
18:45	Fed's Hammack speech	2
19:05	BoE's Ramsden speech	2
19:30	Consumer Confidence	2
19:30	Fed's Chair Powell testifies	3
19:30	BoE's Governor Bailey speech	3

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Thursday, July 23, 2009

Apollo Tyres lto invest Rs 10 bn for IT park in Kerala

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