Neutral APL Apollo Tubes Ltd For Target Rs. 1,153 - Sushil Finance
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We had re-instated coverage on APL Apollo Tubes Ltd. on Feb.1, 2022 at a market price of Rs.863 for a target price of Rs.1,153, showcasing an upside of ~33%. Subsequently, the Target Price was revised to Rs.1,157 in our Q1 FY23 Result Update dated 28 July 2022.
With the recent run-up in the share price, the stock is nearing our target price with today’s high of Rs.1,105. We advise our investors to book profits at current levels as we close our recommendation on the stock and change our rating to NEUTRAL.
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