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Thursday, 16 March 2017

Stocks of APL ApolloTubes soared over 5%, hitting a 52-week high of Rs 1149.10 per share as the company announced that NEXTracker has entered into a strategic tie-up & preferred partnership with APL Apollo Tubes.

The company will provide pre-galvanised steel pipes to NEXTracker, which will be manufacturing torque tubes, a key structural component of its solar tracking system, locally in India.

APL Apollo Tubes on the NSE has delivered 74% returns in one year period, outperforming the BSE Small-cap and BSE Metal indices over the same time span. APL Apollo Tubes Ltd is currently trading at Rs 1139, up by Rs 44.95 or 4.11% from its previous closing of Rs 1094.05 on the BSE.

The scrip opened at Rs 1095 and has touched a high and low of Rs 1149.1 and Rs 1090 respectively. So far 29847(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2580.86 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 1144 on 10-Feb-2017 and a 52 week low of Rs 638.25 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 1115 and Rs 1073.3 respectively. The promoters holding in the company stood at 38.75 % while Institutions and Non-Institutions held 18.04 % and 43.21 % respectively. The stock is currently trading above its 50 DMA.

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