In this stock analysis, we examine the technical and fundamental outlook for Apollo Tyres, a major player in the tyre industry. Over the past year, the stock has surged by more than 58%, and it has seen a nearly 15% increase in the year-to-date performance for 2024. In 2023, the automotive sector experienced unprecedented sales, leading to a rise in sales volume for tyre companies in India. This surge in demand, particularly from Passenger Vehicles and Two & Three Wheelers, resulted in margin expansion for tyre companies across the sector, including Apollo Tyres. Regarding the stock's performance, it has witnessed significant growth, climbing over 58% in the last year and nearly 15% in 2024 year-to-date. However, in February alone, the stock experienced a decline of approximately 4%, breaking a streak of four months of gains, during which it surged by over 46%. Prior to February, it saw gains of 19% in January 2024, 6.2% in December 2023, 12% in November 2023, and 3.4% in October 2023. Currently trading at around ₹520, the stock reached its all-time high of ₹559.85 last week on February 8, 2023. Additionally, it has seen a remarkable increase of over 71% from its 52-week low of ₹303.35, recorded on March 14, 2023. In the long term, the stock has delivered impressive returns, with a surge of 165% in the last 3 years and 155% in the last 5 years. Apollo Tyres is a leading tyre manufacturer and supplier, serving markets in Asia Pacific, Middle East, and Europe regions. The company primarily focuses its sales on replacement markets, with additional sales to Original Equipment Manufacturers (OEMs) and exports.