Apar Industries

In the past six months, Nifty Midcap 150 index has outperformed the market by surging 10 per cent, as against 5.3 per cent rally in the Nifty 50.

Kirsloskar Brothers, EID Parry and Narayana Hrudayalaya among 5 stocks trading above the higher-end of the Bollinger Bands, thus indicating a technical breakout on the daily charts.

Shares of Apar Industries hit an over three-month high of ₹8,399.95, gaining 6 per cent on the BSE in Friday's intra-day trade in an otherwise subdued market on expectations of strong future outlook.

On the margins front, the management said they have seen a drop in this quarter due to unfavourable competitive prices from China and lower exports demand

Apar Industries, CESC, Glenmark, Jubilant Pharma and Power India are trading in overbought zone; charts suggest bias to remain positive as long as these support levels hold.

The board of directors of the company is scheduled to meet on Thursday, September 28, 2023 to consider fund raising plans

For Q1FY24, Apar Industries had posted 61 per cent year-on-year jump in profit after tax at Rs 197 crore.

In past one year, the stock zoomed 341 per cent, as against 14 per cent rise in the S&P BSE Sensex.

While it is risky to be bullish on the stock trading in the overbought category, the underlying trend must to be followed at all time.

Apar Industries hit a new high today on the favourable medium-term demand outlook with increased demand from the end-users such as the power, infrastructure, railways, defence and marine sectors.

In the past 9 months, the stock of Apar Industries has skyrocketed 245 per cent

The management said the company witnessed volume growth across all the three divisions and the net profit tripled on a YoY basis.

In the past one year, the stock has skyrocketed 145 per cent, as against a marginal 0.24 per cent rise in the S&P BSE Sensex

The stock hit a record high of Rs 935, surging 8 per cent on the BSE in Wednesday's intra-day trade

The management is optimistic to deliver a stronger performance in FY23

The stock rallied 11% to Rs 649 in intra-day ahead of board meeting on Friday to consider share buyback proposal.