APL Apollo reported robust earnings for the September quarter, with the consolidated net profit rising 35% year-on-year (YoY), led by a 17% growth in the top line and a 41% growth in the operating profit.
Indian benchmark indices Sensex and Nifty closed lower after a volatile trade, with Sensex dropping by 284 points to settle at 63,238.89 and Nifty falling by 85 points to18,771. Delhivery lost 1.89%, L&T Finance fell by 2.39%, and APL Apollo Tubes rose 4% on Thursday. Kotak Securities Technical Research Analyst, Amol Athawale, suggests buying Delhivery stock above 400, buying L&T Finance stock on dips, and buying APL Apollo Tubes above Rs 1330 to encourage an uptrend rally up to 1450, suggesting selling if it drops below 1330.
Motilal Oswal maintains Buy rating on APL Apollo Tubes with a target price of ₹1,490 per share. The brokerage estimates revenue/EBITDA/PAT/CAGR at 15%/35%/40% over FY23-25.
APL Apollo Tubes share price today: The stock, which fell to a 52-week low of Rs 816 on June 29, 2022 hit an intraday high of Rs 1174 on BSE today, translating into a gain of 43.87 per cent during the period.
Stocks that share market analysts recommended: Stock brokerages namely Axis Direct, SMIFS Limited, Motilal Oswal and Sharekhan have come out with research reports on select stocks namely Divi’s Laboratories, Muthoot Finance, APL Apollo Tubes, Burger King India. Here s what brokerages said about these counters. Watch this Visual Story to see what brokerages said about these stocks.