Apollo Tyres, one of the leading tyre manufacturers in India, witnessed a rise in share price on Monday after announcing the acquisition of Reifencom GmbH for Euro 45.6 million. 

Reifencom GmbH is one of the largest tyre distributors in Germany. It has an online presence in 6 countries - Germany, France, Italy, Austria, Switzerland and Denmark. In addition, it operates 37 stores and service centres across Germany.

Shares of Apollo Tyres are trading at Rs 158.20, up Rs 3.1, or 2% at the Bombay Stock Exchange (BSE) on Monday at 1:19 p.m.

The scrip has touched an intra-day high of Rs 160.30 and low of Rs 151.10. The total volume of shares traded at the BSE is 522,643.