Apollo Pipes soars 29% in one week on hopes of better demand

In Q2FY21, the company's net profit after tax grew 64 per cent YoY at Rs 9.5 crore, on the back of 28 per cent growth in operational revenues at Rs 123.3 crore over the previous year quarter.

Shares of Apollo Pipes were trading higher for the fifth straight day, up 14 per cent to Rs 593.70 on the BSE in intra-day trade on Friday on expectation of better demand outlook. The stock of the plastic products firm hit a 52-week high today, thus surging 29 per cent in the past week post-September quarter (Q2FY21) results. In comparison, the S&P BSE Sensex was up 5 per cent during the week.

Looking ahead, the management believes the upcoming festivities and various pro-growth measures undertaken by the Government, especially in the rural, infrastructure, and agricultural space should lead to better demand