Apollo Pipes rose 1.41% to Rs 1,946.45 after the company said that its board will consider bonus share issue on Friday, 22 October 2021.
The company's net profit surged to Rs 8.75 crore in Q1 FY22 from Rs 2 crore in Q1 FY21. Net sales during the quarter increased by 48.8% Y-o-Y (year-on-year) to Rs 137.61 crore.
Apollo Pipes is a piping solution provider. The company's product profile includes over 1,000 product varieties of cPVC, uPVC, and HDPE pipes, Water storage tanks, PVC taps, fittings and solvents. The products cater to an array of industrial applications such as agriculture, water management, construction, infrastructure, and telecom ducting segments.
The scrip hit record high at Rs 1,989.80 during intraday trade.
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