APL Apollo Tubes share jumps post report on Q3 sales growth
The shares of the leading branded steel tube manufacturer in India, APL Apollo Tubes Limited saw a rise of 3 per cent in the share price after the company reported its performance of Q3 sales. With this jump in the share price, the company gained for a fifth straight session, that is, in the quarter ended December 2019.
In its BSE Filing, APL Apollo, stated that it registered a strong sales volume of 480,225 Million Tonnes Per Annum (MTPA) in Q3FY20, which went higher by 52.6 per cent YoY from 3,14,707 MTPA in Q3FY19. The company added that the growth was led by a strong demand across product categories.
At the time of market closing on Wednesday, APL Apollo Tubes Ltd was trading on BSE at Rs 1,893.90, up by 1.03 per cent or Rs 19.40 per share. Its 52-week high is Rs 1,940.00 and 52-week low is Rs 1,009.05.
APL Apollo Tubes Ltd was incorporated on February 24, 1986 as a private limited company. The company has 6 manufacturing units, 3 at Sikandrabad (Uttar Pradesh), 1 in Hosur (Tamil Nadu), 1 in Bengaluru (Karnataka) and 1 in Murbad (Maharashtra). It also has 4 wholly-owned subsidiaries in India.