APL Apollo Tubes gains after mutual fund buys stake

APL Apollo Tubes rose 2.40% to Rs 447.50 at 9:49 IST on BSE after HDFC Mutual Fund bought 0.68% stake in the company on BSE on Monday, 6 April 2015.

Meanwhile, the BSE Sensex was up 38.67 points, or 0.14%, to 28,543.13.

On BSE, so far 5,388 shares were traded in the counter, compared with an average volume of 19,167 shares in the past one quarter.

The stock hit a high of Rs 455.20 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 447.40 so far during the day. The stock hit a 52-week low of Rs 185 on 12 May 2014.

The stock had outperformed the market over the past one month till 6 April 2015, rising 19.76% compared with 3.21% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.01% as against Sensex's 5.62% rise.

The small-cap company has an equity capital of Rs 23.44 crore. Face value per share is Rs 10.

On Monday, 6 April 2015, HDFC Mutual Fund bought 1.60 lakh shares of APL Apollo Tubes at Rs 421 on the BSE.

APL Apollo Tubes' consolidated net profit surged 38.3% to Rs 17.78 crore on 22.1% rise in net sales to Rs 768.14 crore in Q3 December 2014 over Q3 December 2013.

APL Apollo Tubes is one of the leading manufacturers of hollow section steel tubes and pre-galvanized steel tubes in the country.

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