Turning ex-bonus: Apollo Pipes zooms 17%

The stock of Apollo Pipes hit a record high of Rs 680.05 (adjusted to bonus share) and rallied 17 per cent in intra-day trades today.

Shares of Apollo Pipes  turned ex-date for 2:1 bonus shares on Thursday. The company had fixed Saturday, December 04, 2021 as the "record date", for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus equity shares of the company in the proportion of 2 (two) equity shares for every 1 (one) existing equity share.

The stock of Apollo Pipes hit a record high of Rs 680.05 (adjusted to bonus share), and rallied 17 per cent in intra-day trade today. At 11:16 am; the stock was trading 7 per cent higher at Rs 622, as compared to 0.70 per cent rise in the S&P BSE Sensex.

In the past three months, the stock of plastic products maker had surged 25 per cent, as compared to a 0.41 per cent rise in the Sensex. Moreover, in the past six months, the stock had rallied 78 per cent as against a 12 per cent rise in the benchmark index. Further, over the past one year, the market price of Apollo Pipes zoomed 171 per cent, as compared to a 30 per cent surge in the Sensex.

Apollo Pipes is among the top 10 leading piping solution providing company in India. The company operates large manufacturing facilities at Dadri and Sikandarabad in UP, Ahmedabad – Gujarat, Tumkur – Karnataka and Raipur-Chhattisgarh with a total annual capacity of 125,200 MTPA. The multiple and efficient product profile includes over 1,500 product varieties of cPVC, uPVC, and HDPE pipes, Water storage tanks, PVC taps, fittings and solvents of the highest quality.

Meanwhile, shares of IEX were trading 2 per cent lower at Rs 713 ahead of bonus shares, after hitting an intra-day low of Rs 704 on the BSE today. The stock had hit a record high of Rs 956.15 on October 19, 2021. The company has fixed Monday, December 06, 2021 as the "record date", for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus equity shares of the Company in the proportion of 2 (two) equity shares for every 1 (one) existing equity share.

In the past six months, the stock had rallied 101 per cent as against a 12 per cent rise in the S&P BSE Sensex, while over the past one year, it zoomed 230 per cent, as compared to a 30 per cent surge in the benchmark index.

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy, renewable energy certificates and energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.