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The fall in demand growth is mostly the result of weaker economic activity and less switching from coal or oil to gas because of high gas prices worldwide, the report said.

The stock hit a 52-week high of Rs 2420 on 27 April 2022 but then the trend went sideways. Recent price action pushed the stock above the 50-DMA which is a positive sign. Short-term traders can look to buy the stock now or on dips for a possible target of Rs 2800 which would result in fresh 52-week highs in the next 6 months, suggest experts.

APL Apollo Tubes Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 21475.32 Crore) operating in Metals - Ferrous sector.

Promoters held 51.45 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 19.49 per cent and 9.06 per cent, respectively.

“I believe that Tata Motors has done whatever it could do to make a comeback. They have corrected their cost structure, they lean and mean now. Tata Motors probably remains a compelling buy at this point of time. One needs to have holding capacity for at least next three years to get rewards out of this vehicle maker. That is what my take would be.”

A total of 21,690 shares changed hands on the counter till 12:49PM (IST).

“If you have to save bonds, we will have to sacrifice equity and if you have to save equity we will have to sacrifice currency significantly so my sense is that the best thing for RBI and I have made this point many times over that pivot to weakening currency dramatically from here anyways foreigners are actually leaving you and they will continue to leave for reasons which are very fundamental and we can discuss them separately.”

As of 31-Mar-2022, promoters held 0.0 per cent stake in the company, while FIIs held 13.34 per cent and domestic institutional investors had 15.31 per cent.

The Relative Strength Index of the stock stood at 55.52 on Tuesday.

Varun Beverages Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 52256.27 Crore) operating in FMCG sector.