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The branded structural steel tube company on Thursday registered an 8.67% rise in sales volume to 435,348 ton in Q4 FY21 compared with 400,616 ton in Q4FY20.The company registered sales volume of growth of 0.43% to 16,40,353 ton in FY21 from 16,33,310 ton recorded in FY20, despite Covid-19 disruptions. This highlights APL Apollo s strength in maintaining its dominant leadership in structural steel tubes market and increasing its market share to 50% from 40% since March 2020, the company said in a press release. On a sequential basis, total sales declined 10.34% last quarter from 485,579 ton reported in Q3FY21. Shares of APL Apollo Tubes were trading 5.33% lower at Rs 1325.90 on BSE. ....
The Jorhat district administration has selected Padma Shri Lakhimi Baruah as one of the icons for Systematic Voters Education and Electoral Participation (SVEEP) for the ensuing Assembly polls 2021, reports Northeast Now. It deserves mention that Shri Lakshmi is the general manager of Jorhat based Kanaklata Mahila Urban Cooperative Bank. The polling in Jorhat district will be held in the first phase of the Assam Assembly election on March 27. ....
Gap up opening seen; but FPIs hold the key March 01, 2021 Investors would closely track bond yields, geopolitical tensions and inflation data for further market direction Global and Asia-Pacific markets point to a strong opening for Indian markets. SGX Nifty, which is ruling at 14,751, points to at least a 200-point gap-up opening for Nifty. The Nifty March futures on Friday crashed almost 4 per cent to close at 14,578. Asia Pacific markets too opened with sharp gains. Key markets such as Japan, China, Australia and Hong Kong are up between 1 and 2 per cent. Foreign fund flows will continue to dictate the market direction, said market experts. In one of the biggest pull-outs in recent times, FPIs on Friday (net) sold shares worth ₹8,295 crore. The market crashed almost 4 per cent. ....
Apollo Tricoat Tubes surged 8.20% to Rs 1000 after its board approved a draft scheme of amalgamation of the company and Shri Lakshmi Metal Udyog with APL Apollo Tubes. The scrip gained 10.36% to hit an intraday high of Rs 1,020 in trade today, which is also a record high for the counter. Meanwhile, shares of APL Apollo Tubes shed 0.12% to currently trade at Rs 1069 on the BSE. APL Apollo and Apollo Tricoat are engaged in the business of production of ERW steel tubes. Shri Lakshmi is engaged in the business of production of ERW steel tubes and GP Coils. The amalgamation would combine the businesses under APL Apollo brand with wide product offerings and geographical footprint leading to a stronger market presence. ....
APL Apollo Tubes Limited approves merger of Shri Lakshmi Metal Udyog Ltd and Apollo Tricoat Tubes Ltd with itself Posted On: 2021-02-28 03:54:35 (Time Zone: Arizona, USA) The Board of Directors of APL Apollo Tubes Limited ( Company ), at its meeting held today, i.e., on February 27, 2021, has considered and approved a draft scheme of amalgamation of Shri Lakshmi Metal Udyog Limited ( Shri Lakshmi ) and Apollo Tricoat Tubes Limited ( Apollo Tricoat ) with the Company and their respective shareholders and creditors, as may be modified from time to time ( Scheme ), under Sections 230 to 232 of the Companies Act, 2013. The Scheme is subject to receipt of approvals from the shareholders and creditors of the Company as may be directed by the National Company Law Tribunal, Delhi bench ( NCLT ), BSE Limited, National Stock Exchange of India Limited and approval of other regulatory or statutory authorities as may be required. ....