This scrip below Rs 100 is rising in a bearish environment; do you own it?

The stock registered a fresh 52-week high.

Archidply Industries is one of the leading Plywood companies in India. The company has been procuring high-quality raw materials and employing world-class technology and resources to bring the much-needed revolution in the Plywood manufacturing process, ensuring premier products to its valued customers. 

With two major product categories, Plywood and Laminates, the company provides their customers with ample choices to help them attain the desired look. Comprising Laminates, Exterior Grade Clads and Compacts; Archidlam - its Laminate segment has been transforming every living space. With its excellent product portfolio of Plywood sheets, Doors, and Densified Film-Faced Plywood, it caters to a wide range of customers, allowing them to choose the best products as per their requirements. The company has given India its first-ever toxin check technology plywood. 

In Q1FY23, revenue jumped by 91.9 per cent YoY to Rs 95.11 crore from Rs 49.56 crore in Q1FY22. PBIDT (Ex OI) was reported at Rs 6 crore, up by 130.31 per cent as compared to the year-ago period which was Rs 2.61 crore. The PAT was reported at Rs 4.39 crore, an increase of 863.74 per cent from Rs 0.45 crore reported in the same quarter the previous year. 

Even when Monday started on a negative note, the scrip touched a fresh 52-week high of Rs 99.35 and it has a 52-week low of Rs 29.50. At 12:35 pm, the shares on this company have rallied 5.93 per cent and the scrip is trading at Rs 95.50.