The Economic Times daily newspaper is available online now.

    Buy APL Apollo Tubes, target price Rs 1225: ICICI Securities

    Synopsis

    The brokerage is also positive on the counter as being a downstream player, it is relatively insulated from adverse price movements.

    APL Apollo TubesiStock
    APL Apollo Tubes, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 26106.76 Crore) operating in Metals - Ferrous sector.
    ICICI Securities has buy call on APL Apollo Tubes Lwith a target price of Rs 1225. The current market price of APL Apollo Tubes is Rs 1039.95.

    APL Apollo Tubes, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 26106.76 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
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3980.81 Crore, up 15.49 % from last quarter Total Income of Rs 3446.87 Crore and up 28.61 % from last year same quarter Total Income of Rs 3095.28 Crore. Company has reported net profit after tax of Rs 150.19 Crore in latest quarter.

    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
    The brokerage is also positive on the counter as being adownstream player, it is relatively insulated from adverse price movements.

    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.



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in