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APL Apollo Tubes hits new high; stock zooms 128% in calendar year 2020

The stock hit a new high of Rs 853 on Thursday, and was trading higher for the seven straight day

Colour coated pipes at APL Apollo's Murbad facility

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CARE Ratings revised the long-term ratings assigned to the bank facilities of APL Apollo Tubes with a stable outlook

2 min read Last Updated : Dec 31 2020 | 10:27 AM IST

Shares of APL Apollo Tubes rose 2 per cent to hit a new high of Rs 853 on the BSE in Thursday's early trade. The stock has gained 4 per cent in the past two days after CARE Ratings revised the long-term ratings assigned to the bank facilities of the company with a stable outlook.

The stock was trading higher for the seventh straight day and has rallied 18 per cent during the period. During the calendar year 2020, it has logged 128 per cent gains, as compared to a 16-per cent rise in the S&P BSE Sensex.

The rating

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