APL Apollo Tubes: Brokerages remain bullish on this metal stock even after a 136% rise in two years; Here's why

In the last one year, the shares of APL Apollo Tubes delivered a 20.70% return, climbing from ₹937 apiece to the current market price of ₹1,131. Over the past two years, the stock has returned 136% to its stockholders.

Jindal Stainless more than doubles investor wealth in 6 months; what next for the stock?

Brokerage firm Phillip Capital, in its latest equity research report, initiated coverage on the stock with a ‘buy’ rating and a target price of ₹300 per share, which reflects a potential upside of 25.52% from the stock's previous closing price.

2022 in Review: Indian market outperformed global peers; Nifty PSU Bank best-performing index

On December 01, the S&amp;P BSE Sensex index rose 0.29 percent to hit a record high of 63,583. Similarly, the broader NSE Nifty marked a new all-time high of 18,887.

Nifty and Sensex are nearing all-time highs, with gains led by banking and auto stocks

After FPIs made a U-turn in July by investing nearly ₹5,600 crore, the Nifty rallied 8.60% and the Sensex gained 8.56%. In addition to that, the Indian market outperformed most of its global peers in the same month. July stands as one of the best months for the markets.

Nifty Metal top performing sector in August even as headwinds for steel firms continue

In the metal index, all stocks except 1 - Tata Steel - gave positive returns in the last 1 month. 4 out of 14 stocks gave double-digit returns in the last 1 month, rising over 10 percent each. Adani Enterprises rose the most, up 27 percent followed by Welspun Corp, up 21 percent in the last 1 month on the back of strong Q1 results.

Two reasons why metal stocks fell between 2-5% last week

Steel exports have been falling steadily since the government imposed a 15% export duty in May this year. For the April to June quarter, exports declined 39 percent, year-on-year. In June, exports declined 60 percent, y-o-y.

Why are metal stocks declining?

Metal firms are battling coal supply difficulties and high international coking coal costs. Furthermore, domestic coal from Coal India has been diverted to the power sector in order to fulfil the rising power demand.

Metal firms are battling coal supply difficulties and high international coking coal costs. Furthermore, domestic coal from Coal&nbsp;India has been diverted to the power sector in order to fulfil the rising power demand.

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APL Apollo Tubes: Brokerages remain bullish on this metal stock even after a 136% rise in two years; Here's why

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