APL Apollo Tubes jumps 20% in six sessions

APL Apollo Tubes rose 7.24% to Rs 1084.45, extending gains for the sixth trading session.

Shares of APL Apollo Tubes have surged 19.89% in six sessions.

On a year-to-date (YTD) basis, the stock has surged 183.06% while the benchmark Sensex has added 25.01% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 83.17. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 956.82, 937.08 and 916.37, respectively.

On a consolidated basis, net profit of APL Apollo Tubes rose 42.53% to Rs 131.30 crore on 39.77% rise in net sales to Rs 2977.51 crore in Q2 September 2021 over Q2 September 2020.

APL Apollo Tubes is India's leading structural steel tube manufacturer. The company's multi-product offerings include over 1,500 varieties for multiple building material structural steel applications.

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