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Yes Securities Report
We initiate coverage on APL Apollo Tubes Ltd. with a Buy rating on the following conviction-
company’s substantial ~55% market share in the buoyant structural steel tubes industry (HRC Coil based),
growth boost from new capacities,
higher share of value-added products,
remarkable product innovation and growing industry applications
healthy free cash flow generation and superior return ratios.
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Also Read: SBI - Ruling The Roost; Motilal Oswal Reiterates Buy With A Revised Target Price Of Rs 1,015
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