APLAPOLLO

: Temporary Hurdle, Strong Long-Term Story Intact 🚀

Nuvama maintains a Buy on APL Apollo Tubes

with a target of ₹2,617, despite a muted Q4 impacted by Middle East disruptions and gas shortages in Dubai operations. While short-term volumes took a hit, the core business fundamentals remain solid. Demand visibility, structural growth in steel tubes, and strong execution continue to support the long-term thesis. Market noise vs. business strength, smart money knows the difference.