This manufacturing company has given multibagger returns of 357% over last year; do you hold it?
Shares of the company hit a new 52-week high today.
On a consolidated basis in Q3FY23 Apar Industries recorded a 198.58% increase in net profit from Rs 52.87 crore to Rs 157.86 crore for the same quarter the year before. Total revenue climbed by 74.52% from Rs 2063.76 crore to 3601.75 crore in the same period the previous year.
Trigger for Price Movement:
The government's increased emphasis on infrastructure and specific industries like railways, defence, and renewable energy would benefit Apar Industries. The market for conductors and cables with an export focus is projected to benefit significantly from increased infrastructure spending in critical regions like Europe and the US.
Today the scrip opened at Rs 2803.95 at BSE and touched a high and low of Rs 3008 and Rs 2803.95, respectively. It closed at Rs 2969.90, up by 4.43% and 21,295 shares were traded on the counter at BSE.
The BSE group 'A' stock of face value of Rs 10 and a market cap of Rs 11,365.40 crore. Today it hit a new 52 Week high at Rs 3008.
Apar Industries, incorporated in 1989, is one of the best-established companies in India operating in the diverse fields of electrical, metallurgical and chemical engineering.
The company manufactures a full range of powerline brands made of aluminium, galvanized steel and mechanical-grade alloy wire bundles. It also manufactures products for different industry oils.
Power, rubber, tyre, ink, cosmetics, food, pharmaceuticals, health care, steel, aluminium, petrochemical, plastic, paper, sugar, cement, and other sectors are just a few of the many that Apar serves. Additionally, it sells products in Asia, the Middle East, Africa, Europe, Australia, and the Far East.
Apar holds a 23% market share and is the second-largest producer of aluminium conductors in India. Silvassa and Nalagarh are where its aluminium conductor production plants are situated. The company runs two manufacturing facilities in Mumbai with a combined annual production capacity of approximately 250 thousand tonnes.
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