APL Apollo Tubes, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 29325.37 Crore) operating in Metals - Ferrous sector.
APL Apollo Tubes key Products/Revenue Segments include Pipes & Tubes Steel, Scrap and Export Incentives for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.Sanjay Gupta, Mr.Rahul Gupta, Mr.Abhilash Lal, Mr.Anil Kumar Bansal, Ms.Neeru Abrol, Mr.Virendra Singh Jain, Mr.Vinay Gupta, Mr.Romi Sehgal, Mr.Ashok K Gupta, Mr.Ameet Kumar Gupta. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2022, the company has a total of 25 Crore shares outstanding.
Investment Rationale
APL Apollo Tubes on the weekly time frame has decisively broken out above the “multiple resistance zone” which was placed between 1150-1177levels. The stock is also respecting the upward sloping trendline and forming a higher high-low on weekly chart. This formation indicates a positive uptrend. The breakout is accompanied with an increase in volume confirming participation at breakout level. The daily and weekly strength indicator RSI is in bullish mode and weekly RSI cross above its reference line which had generated a buy signal.
Promoter/FII Holdings
Promoters held 34.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.64 per cent, DIIs 11.17 per cent.
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