APL Apollo Tubes (APAT) is one of the leading Branded Steel Products Manufacturers in India. Shares of APL Apollo have given multibagger returns so far this year as the stock is up more than 101% in 2021 (Year-to-date or YTD) so far, while it has gained over 210% in a span of one year.
Headquartered in Delhi NCR, CPMPany runs 10 manufacturing facilities churning out over 1,500 varieties of pipes and tubes to serve industry applications such as urban infrastructure, housing, irrigation, solar plants, greenhouses and engineering.
share it as top stock picks Of the week, brokerage and research firm Axis Securities has given a buy rating on the stock and sees further upside with the target price ₹960 per share. While the ideal investment horizon for such ideas is 6-9 months, the brokerage said that its choice can provide some profit making opportunities to short-term investors as well.
“The current volume expansion plan is expected to augur well from a medium to long-term earnings perspective with continued focus on expanding its market share and increasing contribution from value-added products,” Axis Securities said in a note.
Management has indicated that by FY25 they will increase their total capacity to 4 million tonnes from the current 2.6 million tonnes, an increase of 57%, noting that structural steel tubes in India are driven by product innovation and cost savings. There is a huge growth opportunity for Brokerage note highlighted.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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