This stock is up 14% on the budget day! 

This stock is up 14% on the budget day!

by 5paisa Research Team Last Updated: Feb 01, 2023 - 03:57 pm 2k Views
Listen icon

The stock is up more than 36% in just the last two trading sessions.

On February 1, Finance Minister Nirmala Sitaraman announced the 2023 union budget. The budget was decent enough to let the market trade in the green. At 2:20 pm, the Sensex is trading at 59,774.97, 0.38% up on the day. Regarding sectoral performance, Banks and Metals are outperforming, while Utilities and Telecom are the top losers. Talking about stock-specific action, Apar Industries is among the top gainers in BSE group ‘A’.

Apar Industries announced its Q3FY23 results yesterday. The Q3FY23 revenue came in at Rs 3916 crore, registering a staggering 76.34% YoY growth. While the net profit more than tripled from Rs 54.9 crore in Q3FY22 to Rs 169.9 in Q3FY23. This excellent result led the stock to trade 14% higher on the day. The stock opened at Rs 1750 and so far, the stock has made an intraday high and low of Rs 1999 and Rs 1750, respectively. At 2:30 pm, the stock is trading at Rs 1921.7.

Apar Industries Ltd is a highly-trusted manufacturer and supplier of conductors, a wide variety of cables, speciality oils, polymers and lubricants. Established in 1958, it exports to over 140 countries, serving more than 10 industries. According to FY22, about 38.2% of the revenue comes from exports while 61.8% comes from the domestic market. As per the FY22 period ending, the company has an ROE and ROCE of 16.22 per cent and 28.51%, respectively.

It operates mainly into four segments- conductors, electrical, telecom and elastomer cables, speciality oils and lubricants (auto & industrial). Power Grid Corporation of India Limited, Adani Group and Mazagon Dock Shipbuilders are among the major clients of the company.

About the shareholding pattern, 60.64% of the company’s stake is owned by the promoters, 6.73% by FIIs, 17.53% by DIIs and the rest 15.1% by non-institutional investors.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Marinetrans India IPO lists 15.38% higher and hits upper circuit

Premium listing for Marinetrans India IPO, then upper circuit

Net Avenue Technologies IPO lists 133.33% up but later hits -5% circuit

Strong listing for Net Avenue Technologies IPO, then lower circuit

What you must know about India Shelter Finance IPO?

India Shelter Finance Corporation Ltd was incorporated in 1998 and offers small and mid-ticket home loans. These loans are typically in the size of ₹5 lakhs to ₹50 lakhs. It provides home loans for construction, purchase, extension and also for renovation.