HDFC MF Prudence Fund has bought 1.60 lakh shares of APL Apollo Tubes through open market route. The shares were purchased on an average price of Rs 392 valuing the transaction to Rs 6.28 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.