Heavy buying witnessed: This multibagger stock zooms 6 per cent to make a new 52-week high!

The stock has witnessed heavy buying as it has given multibagger returns of more than 300 per cent in just 1 year

On Wednesday, shares of Apar Industries zoomed 6 per cent to make a new 52-week high of Rs 2753.45 apiece. The scrip witnessed a massive spurt in volume by more than 2.31 times.   

For the quarter ended December 31, 2022, the company’s net sales zoomed by 76.88 per cent from last year’s same quarter to Rs 3,942.37 crore. The EBITDA level of the company surged by 181 per cent from December 2021 to Rs 349.85 crore. The net profitability of the company shot up by a massive 209 per cent from the corresponding quarter last year to Rs 169.90 crore.   

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.  

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 300 per cent in just 1 year. Moreover, the stock has rallied more than 80 per cent in the last 6 months. Keep a close eye on this trending multibagger stock.