APOLLO TUBES

Nuvama remains upbeat on APL Apollo Tubes after its recent interaction with the company’s top management, reiterating a ‘Buy’ rating on APL Apollo Tubes shares, with a target price of ₹2,093, valued at 36x Q2FY28E earnings per share (EPS). The brokerage noted that the stock currently trades at 33x/27x FY27E/28E earnings.