APL Apollo Tubes Limited touched its fresh 52-week high of Rs 1247.8 per share on BSE, up by Rs 33.2 per share or 2.7%.
The stock is in focus owing to developments on the production front. The company is planning to increase its production with opening of the seventh manufacturing facility at Chattisgarh. The production is likely to rise to 2 million tonnes per year from the current figures of 1.3 million tonnes. The company also predicts increase in its turnover for the year 2016-17.
The company’s manufacturing centres are spread in the states of Tamil Nadu, Karnataka, Maharashtra and Uttar Pradesh.
APL Apollo Tubes Limited is a steel tube manufacturer. The Company is engaged in the business of production of electric resistance welded (ERW) steel tubes. It manufactures black pipe, galvanised pipe, pre-galvanised pipe and coils.
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