Sharekhan's research report on APL Apollo Tubes
Domestic steel prices have shown marginal improvement after a recent decline, anticipate that Q4FY25 may bring some relief to steel prices, though overall near-term outlook continues to remain weak. Higher steel prices and volumes are expected to drive improved performance in Q3FY25 and augurs well for improvement in spread and inventory gains. The company’s strong growth outlook, driven by capacity expansions and innovative products, makes it well-positioned to capitalize on industry trends.
Outlook
Favourable risk-reward for investment. We maintain a Buy with an unchanged price target (PT) of Rs. 1,850, considering its strong outlook led by capacity additions and structural demand drivers.
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