APL Apollo Tubes sees -4.05% decline in stock price, but remains a strong player in iron and steel industry

APL Apollo Tubes, a leading player in the iron and steel industry, has seen a decline in its stock price by -4.05% on June 27, 2024. This has been attributed to the overall underperformance of the sector, with the stock falling -1.96% below the sector's average.

According to MarketsMOJO, a leading financial analysis platform, the current stock call for APL Apollo Tubes is 'Hold'. This is based on the stock's recent performance and market trends.

In the past two days, APL Apollo Tubes has been on a downward trend, with a consecutive fall of -4.08% in returns. The stock also touched an intraday low of Rs 1554, showing a decline of -2.23%.

While the stock's performance may seem concerning, it is worth noting that APL Apollo Tubes is still performing better than its 100-day moving average. However, it is currently lower than its 5-day, 20-day, 50-day, and 200-day moving averages.

In comparison to the overall market performance, APL Apollo Tubes has underperformed with a -4.05% decline, while the Sensex has seen a 0.70% increase. In the past month, the stock has also seen a decline of -8.29%, while the Sensex has seen a 5.08% increase.

Despite the recent decline in stock price, APL Apollo Tubes remains a largecap company in the iron and steel industry. With its strong presence and expertise in the market, the company continues to be a key player in the industry.