Apollo Tyres stock jumps after SAT gives it clean chit in a buyback rule violation case by Sebi

Shares of Apollo Tyres closed the trade session on Wednesday (September 27) higher by 1.63 per cent, or Rs 6.05, at Rs 376.60 each, after the Securities Appellate Tribunal (SAT) gave it relief in a buyback case.

Apollo Tyres got a respite in a case filed by the Securities Exchange Board of India (Sebi) in 2003, when the exchange regulator accused the tyre company of violating the buyback rules.

The SAT, in its order on Wednesday, gave the clean chit to Apollo Tyres, asking Sebi to return the amount deposited by the tyre company.