Multibagger stock subsidiary secures Rs 500 crore in incentives from the SIPB of the Government of Chhattisgarh

In the vast universe of Indian stock markets, only a few companies have achieved the coveted status of being a 100-bagger

In the world of the stock market, every investor dreams of discovering that one elusive gem, a stock that skyrockets in value and transforms their financial fortunes in the blink of an eye. These are the fabled multibaggers, stocks that have the power to turn a modest investment into a staggering windfall.

The term "bagger" was popularized by Peter Lynch, who often spoke of 10-baggers, stocks that multiplied in value tenfold. However, Chris Mayer, Co-Founder & Portfolio Manager of Woodlock House Family Capital, extended the idea to discuss stocks going from Rs 1 to Rs 100.

In the vast universe of Indian stock markets, only a few companies have achieved the coveted status of being a 100-bagger. One such remarkable stock is APL Apollo Tubes Ltd.

APL Apollo Tubes Ltd holds the distinction of being India's largest producer of structural steel tubes. With an extensive distribution network of warehouses and branch offices in 29 cities across the country, the company serves both domestic and international markets, reaching customers in 20 countries. APL Apollo offers a diverse range of products, including over 1,100 varieties of pre-galvanized tubes, structural steel tubes, galvanized tubes, MS black pipes, and hollow sections. This expansive product portfolio has solidified APL Apollo's position as one of the leading manufacturers of branded steel products in India.

All eyes are on APL Apollo as the stock is expected to attract attention on Tuesday. The company's wholly owned subsidiary, APL Apollo Building Products Private Ltd, has received incentives worth Rs. 500 Crores from the State Investment Promotion Board (SIPB) of the Government of Chhattisgarh. These incentives are granted under various heads, including relaxation of stamp duty, 75 percent net SGST rebate for 15 years, electricity duty exemption for 15 years, and transport subsidy for exports over the same period. These generous incentives have been provided to support the establishment of a manufacturing facility by APL Apollo Building Products Private Limited in Rigni Village, Tahsil - Simga, Baloda Bazar District, Chhattisgarh State.

APL Apollo Tubes Ltd has witnessed an extraordinary journey in the stock market, starting at Rs. 9 per share in January 2010 and currently trading at an impressive Rs. 1307.75 per share on the Bombay Stock Exchange (BSE). This meteoric rise has made it a 100-bagger, multiplying its value by an astonishing over 100 times.