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Shares of APL Apollo Tubes Ltd today gained as much as 5 per cent to a record high.
According to BSE data, HDFC Mutual Fund had bought nearly 0.2 million shares, or 0.83 per cent, in the company on Tuesday.
According to traders, share purchase by large institutional investors like HDFC in mid-sized companies like APL Apollo generally creates bullish trend in respective counters.
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