Apollo Pipes rallies 10%, hits new high on healthy demand outlook

In the past one month, the stock has surged 46 per cent, against 1 per cent rise in the benchmark S&P BSE Sensex

Shares of Apollo Pipes, on Wednesday, rallied 10 per cent to Rs 1,028.35 on the BSE in intra-day trade on expectation of strong revenue growth on the back of healthy demand outlook for the industry. In the past one month, the stock of the plastic products company has surged 46 per cent, against 1 per cent rise in the benchmark S&P BSE Sensex.

During the October-December quarter (Q3FY21), Apollo Pipes reported an encouraging performance led by a robust uptick in consumption in the domestic markets. During the quarter, the company’s sales volume grew by 7 per cent to 11,445