HDFC Mutual Fund has bought 1.96 lakh shares of APL Apollo Tubes through open market route. The shares were purchased on an average price of Rs 365.05 valuing the transaction to Rs 7.15 crore. On the other hand, EMBLEM FII has sold 2 lakh shares of the company for an average price of Rs 365.15 through open market route.
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.