52-week high alert- This multibagger stock continues to rally further and further; reports stellar jump in net profit!

The stock has witnessed heavy buying as it has given multibagger returns of more than 380 per cent in just 1 year

On Monday, shares of Apar Industries zoomed 12 per cent to make a new 52-week high of Rs 3296.40 apiece. The scrip witnessed a massive spurt in volume by more than 5 times.   

For the quarter ended March 31, 2023, the total operating income of the company increased by 35.7 per cent to Rs 4,088.60 crore compared to Q4 FY22. The EBITDA of the company increased by 138.2 per cent to Rs 434.60 crore compared to Q4 FY22. The net profitability of the company increased by 193.8 per cent to Rs 242.70 crore compared to Q4 FY22.  

With the government's renewed attention on infrastructure and specific sectors like railways, defence and renewable energy, Apar Industries is poised to reap benefits. In particular, the export-oriented conductors and cables division is expected to experience significant growth due to heightened infrastructure investments in key markets such as Europe and the US.  

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Apar Industries, which is the world's biggest manufacturer of aluminium and alloy conductors and the third-largest producer of transformer oil, offers an extensive range of products. This range includes over 350 grades of specialty oils, the most extensive selection of specialty cables, as well as lubricants, specialty polymers and automotive products.  

The stock has witnessed heavy buying as it has given multibagger returns of more than 380 per cent in just 1 year. Moreover, the stock has rallied more than 118 per cent in the last 6 months. Keep a close eye on this trending multibagger stock.