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MoneyWorks4Me

Apollo Pipes sells 3 lakh shares of APL Apollo Tubes

04 Mar 2015 Evaluate

Apollo Pipes has sold 3 lakh shares of APL Apollo Tubes through the open market route. The shares were sold on an average price of Rs 350.02 valuing the transaction to Rs 10.50 crore. On the other hand, HDFC MF A/C HDFC Growth Fund has bought 5.68 lakh shares in the company for an average price of Rs 350.65, through open market route valuing the transaction at Rs 19.93 crore.

APL Apollo Tubes will continue to develop new products to compliment its wide basket of over 400 different pipes and sections. The company is targeting to spend over 0.5% of its turnover in R&D and new technologies.

Peers
Company Name CMP
JSW Steel 1247.50
Tata Steel 168.15
Steel Authority 161.15
Jindal Stainless 672.35
APL Apollo Tubes 2179.85
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