In Monday’s trade, the shares of Steel Tube Manufacturer APL Apollo Tubes rallied over 4 per cent at Rs 1,082 as the company recorded the highest-ever three-monthly sales volume of 6.02 lakh tonnes in Q2FY23, seen up by 41 per cent yearly.

The sales volume of the Steel Tube Manufacturer for the first half of FY23 was 10.25 lakh tonnes compared to 8 lakh tonnes in the same period last year, i.e. 2021. At 9:59 in the morning, the scrip was trading 3 per cent higher at Rs 1,072 over its preceding day’s closing price of Rs 1,036 apiece. The stock has increased nearly 23 per cent in the last year, while it has surpassed about 13 per cent year-to-date.

As per the Trendlyne data, the highest-ever mark for APL Apollo Tubes has risen to Rs 1,104, presenting an advantage of the potential of around 3.6 per cent from the existing levels. Out of the 13 analysts covering the stock, 11 have a robust buy, and one has a buy rating, while only one has a strong sell rating.

For the quarter ended 30th June 2022, the company reported amalgamated net sales of Rs 3,438.55 crore, up 36 per cent from the year-ago quarter’s net sales of Rs 2,534.28 crore. The company described a net profit of Rs 120.67 crore for the latest quarter.