Apollo Tyres shares fall on temporary halt of bias OTR tyre production

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Apollo Tyres shares fell over 2 percent on September 21 after the company announced a temporary halt of its bias off-the-road (OTR) tyre production at its Limda plant in Gujarat. The halt comes due to concerns from shop floor employees over the renewal of a long-term settlement agreement.

Apollo Tyres said in a statement that it is in discussions with labour union representatives to address their concerns and find a resolution. The company added that it has contingency plans in place to mitigate any supply disruptions, and that the situation is not expected to have a material impact on its operations.

Bias ply tyres are a type of tyre that is used in heavy-duty applications, such as mining and construction. Radial tyres are more commonly used in passenger vehicles.

Apollo Tyres is a major player in the tyre industry, with its products sold in 170 countries across the world. The company has a strong presence in India and Europe.

          

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