APL Apollo soars over 9% on bonus issue proposal
The board will also consider and approve the unaudited financial results of the company for the first quarter ended 30 June 2021.
APL Apollo Tubes jumped 9.27% to Rs 1,757.10 after the company said that its board will meet on Friday, 6 August 2021, to consider a proposal for issuance of bonus equity shares.
On the same day, the board will also consider and approve the unaudited financial results of the company for the first quarter ended 30 June 2021.
APL Apollo Tubes is one of the largest producer of structural steel tubes in India. It has a distribution network of warehouses and branch offices in 29 cities across the country catering to domestic as well as 20 countries worldwide.
On a consolidated basis, the company posted a 109.8% jump in net profit to Rs 119.22 crore on a 38.5% rise in net sales to Rs 2505.14 crore in Q4 FY21 over Q4 FY20.
In a regulatory filing APL Apollo Tubes said, “A meeting of the Board of Directors of the company will be held on Friday, 6 August 2021, to consider and approve unaudited financial results (Standalone and Consolidated) of the company for the quarter ended June 30, 2021 and to consider a proposal for issue of bonus shares on the equity shares of the company.”
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