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Key benchmark indices continued to trade in a small range with positive bias in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 92.63 points or 0.3% at 30,557.55. The Nifty 50 index was up 8.30 points or 0.09% at 9,436.20. Shares from capital goods and telecom sectors saw mixed trend. Key benchmarks were hovering in the green tracking positive global stocks.
APL Apollo Tubes rose 3.81% to Rs 1,418.50 at 11:45 IST on BSE after consolidated net profit rose 49.96% to Rs 41.24 crore on 11.2% rise in total revenue to Rs 1317.57 crore in Q4 March 2017 over Q4 March 2016.
Over a dozen companies will announce their financial performance for the quarter and year-ended March 2017 on Saturday.
Bringing in revolutionary changes in galvanised steel pipes production, APL Apollo Tubes has lined up investments close to ₹300 crore for Direct Forming Technology (DFT), a value addition in steel pipes manufacturing.
APL Apollo Tubes Limited touched its fresh 52-week high of Rs 1247.8 per share on BSE, up by Rs 33.2 per share or 2.7%.
Trading Members of the Exchange are hereby informed that with effect from Monday, April 10, 2017 under mentioned new securities issued on private placement basis APL Apollo Tubes Limited are admitted to dealing on the Exchange in the list of securities of F GROUP - DEBT INSTRUMENTS
Suven Life Sciences on Tuesday said it has secured a product patent in New Zealand for treatment of disorders associated with neurodegenerative diseases. The patent is valid up to 2033, the company said in a press release. The patent is for the class of selective “5HT4” compounds used in the treatment of disorders, such as Alzheimer’s, Huntington’s, and Parkinson’s diseases, among others. With this patent, Suven Life now has a total of 26 granted patents from New Zealand.
Modison Metals, Astra Microwave Products, Lloyds Metals and Energy and TeamLease Services are among the other stocks to see a surge in volumes on BSE today, 23 March 2017.
Stocks of APL ApolloTubes soared over 5%, hitting a 52-week high of Rs 1149.10 per share as the company announced that NEXTracker has entered into a strategic tie-up & preferred partnership with APL Apollo Tubes.
Association with new Indian steel manufacturer reduces shipment time by up to 50 percent to support India's National Solar Mission
The markets are trading cautious, meanwhile, HDFC Bank, Sun TV, NMDC, Max India, Ashoka Buildcon, Nahar Spinning, Can Fin Homes, DCB Bank, HPCL and APL Apollo Tubes are the 10 stocks which are close to their 52-week high on BSE.