Apollo Tyres witnessed a rise in share prices on Thursday, after the company has confirmed Hungary as the location for setting-up greenfield facility in Eastern Europe. The company has received the necessary approval from its board of directors for the same.

Hungary was chosen after a consideration of various factors over some of the neighbouring Central Eastern European and Asian countries. Apollo Tyres will invest Euro 475 million over the next 4 to 5 years to setup this facility in the new industrial zone near Gyongyoshalasz, Hungary.

Shares of the company are trading at Rs 204.15, up Rs 2.85, or 1.42% at the Bombay Stock Exchange (BSE) on Thursday at 10:51 a.m.

The scrip has touched an intra-day high of Rs 205.15 and low of Rs 201.40. The total volume of shares traded at the BSE is 222,114.