APL Apollo Tubes: Nuvama maintains Buy on APL Apollo Tubes with Target Price ₹2,617 (earlier ₹2,638) citing Q4 volume impact from Middle East disruptions and gas shortages, Dubai plant utilisation hit, positive but below-estimate growth, pricing power and healthy spreads supporting margins, slight decline in value-added mix, EPS cuts due to near-term headwinds, but structural growth outlook remains strong.

 02 Apr 2026 09:15 AM

APL Apollo Tubes: Nuvama maintains Buy on APL Apollo Tubes with Target Price ₹2,617 (earlier ₹2,638) citing Q4 volume impact from Middle East disruptions and gas shortages, Dubai plant utilisation hit, positive but below-estimate growth, pricing power and healthy spreads supporting margins, slight decline in value-added mix, EPS cuts due to near-term headwinds, but structural growth outlook remains strong.