Meanwhile, the S&P BSE Sensex was up 75.42 points, or 0.24% at 31,213.63.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 4.79 lakh shares in the past one quarter. The stock had hit a high of Rs 246 and a low of Rs 241.30 so far during the day. The stock had hit a record high of Rs 266.40 on 13 June 2017 and a 52-week low of Rs 139.35 on 24 June 2016.

The stock had outperformed the market over the past one month till 23 June 2017, advancing 7.11% compared with the Sensex's 2.55% rise. The scrip had also outperformed the market over the past one quarter advancing 19.61% as against the Sensex's 6.16% rise. The scrip had also outperformed the market over the past one year advancing 65.88% as against the Sensex's 15.32% rise.

The large-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 1.

Before turning ex-dividend, the stock offered a dividend yield of 1.21% based on the closing price of Rs 247 on Friday, 23 June 2017.

Apollo Tyres' consolidated net profit fell 16.1% to Rs 228.24 crore on 10.2% increase in net sales to Rs 3269.22 crore in Q4 March 2017 over Q4 March 2016.

Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary. The company markets its products under its two global brands – Apollo and Vredestein. The company's products are available in over 100 countries through a network of branded, exclusive and multi-product outlets.