Nuvama remains upbeat on APL Apollo Tubes after its recent interaction with the company's top management, reiterating a 'Buy' rating with a target price of ₹2,093, valued at 36x Q2FY28E EPS
Analysts at Nuvama noted that APL Apollo launched its new 'SG Premium' product line at around ₹49,500 per tonne to counter competition from secondary steel players.
Around 9:30 AM, APL Apollo Tubes shares continued to trade lower, down 3.46 per cent at ₹1,630 per share. In comparison, BSE Sensex was trading 0.51 per cent lower at 81,764.21 levels.