Latest Stock Market News

As of 30-Jun-2022, promoters held 74.03 per cent stake in the company, while FIIs held 8.42 per cent and domestic institutional investors had 5.09 per cent.

Despite a sharp selloff in the secondary market, the company has not lost ground in the unofficial market and commands a premium of Rs 220-230, which translates into an upside of about 70 per cent over its price band of Rs 314-330.

The stock traded at a P/E multiple of 55.19, while the price-to-book value ratio stood at 19.41.

Promoters held 59.45 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 23.1 per cent and 4.21 per cent, respectively.

“In a scenario where people want to move out of China, their manufacturing supply chain in the environment where the energy bills in Europe are shooting through the roof, everything points to India being the only choice as a manufacturing destination. We are on the cusp of a manufacturing renaissance, a capex revival and credit growth and real estate cycle in India.”

Apollo and Keestrack have decided to work jointly and in cooperation with each other for the purpose of carrying on the business of agricultural and farming machinery and components by forming a joint venture company in India, Gujarat Apollo said in a release.

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 920.28 crore, down 4.61 per cent from last quarter total income of Rs 964.72 crore and up 135.05 per cent from last year same quarter total income of Rs 391.52 crore.

A total of 7,837 shares changed hands on the counter till 01:19PM (IST).

The stock quoted a 52-week high of Rs 1750.05 and a 52-week low of Rs 1375.55.

Though it fell short of market expectation as the cut was nominal, amounting to only 0.1 per cent of global demand, it came with a statement that the oil cartel is vigilant about the market volatility and can take further steps if required to defend prices.