Apollo Tyres while clarifying on news report said the company is studying the market potential in Malaysia currently to set up a sales unit and it is as part of its normal course of business. The news report stated the company is planning to set up unit in Malaysia.
"As the company continues to manage the sales in Malaysia through its Thailand-based step subsidiary, a decision on the establishment of the sales unit, if at all, would be taken post the study is completed," Apollo Tyres said.
Shares of the company declined Rs 2.9, or 1.56%, to settle at Rs 183.45. The total volume of shares traded was 307,717 at the BSE (Tuesday).