APL Apollo Tubes stock was in the fast lane during Tuesday's trading session. Investors cheered the stock after the company allotted Rs75cr worth of commercial paper to ICICI Prudential Ultra Short Term Fund.
As per the regulatory filing, APL Apollo allotted commercial paper at an interest rate of 3.90% at a price of Rs99.6805.
The commercial paper matures on March 24, 2021.
At around 2.08 pm, APL Apollo was trading at Rs970.45 per piece up Rs27.90 or 2.96% on Sensex.
The stock has touched an intraday high of Rs973 per piece in early deals.