Diversified Stock Offers 358% Return In 1-Yr, Accumulate Call Assigned: PL

Prabhudas Lilladher has recommended accumulate call to diversified sector stock, Apar Industries Ltd with target price of Rs 5,418 apiece. Current market price of Apar Industries share is Rs 5804.70 per share with intraday gain of 6.90%. Apar Industries shares traded new 52-week high in trade today. Meanwhile, board of directors of Apar Industries are scheduled to hold a meeting on September 28, 2023 to consider fund raising plans. Apar Industries shares even managed to surpass its earlier high of Rs 5,740 apiece that it scaled on September 20. Check details below:

Apar Industries Valuation: According to Amit Anwani - Research Analyst, Prabhudas Lilladher Pvt Ltd, "We believe capital raise can be utilised for further capex plan, which can be over and above the current capex plan of ~Rs3.5bn. The stock is trading at PE of 37.3x/30x FY24/25E. We have Accumulate rating on stock with TP of Rs 5,418."

Apar plans to raise further capital through instruments such as convertible preference shares, non-convertible debt instruments along with warrants, fully convertible debentures, partly convertible debentures, and/or any other securities convertible into equity shares (including warrants or otherwise), global depository receipts, American depository receipts, foreign currency convertible bonds, through public and/or private offerings and/or by way of qualified institutions placement, and / or preferential allotment, added Amit Anwani.

Apar Industries Stock Performance & Return: Last trading price of Apar Industries share is Rs 5804.70 per share on BSE. The stock's 52-week high price is Rs 5850.00 per share and 52-week low price is Rs 1200.00 per share, respectively. Its market capitalisation is Rs 22,213.79 crore. Apar Industries shares gained 73% in last 1-months, soared 150% in last 6-months, rose 357% in last 1-year, and offered return of 1906% in last 3-years. In last 10-years, Apar Industries shares jumped 6602%.

Apar Industries Financials: The company for the quarter ended June 30, 2023 announced its revenue at Rs 3773 crore, up 22% YoY pushed by higher volumes. The company declared its quarterly net profit at Rs 197.43 crore in June 2023, up 61.22% as against Rs 122.46 crore in June 2022. Its EBITDA stood at Rs 360.02 crore in June 2023, up 48.84% as compared to Rs 241.88 crore declared in June 2022.

Apar Industries About: APAR Industries was started in 1958, in India. Over 60 years later, It has grown into a diversified billion dollar company, and expanded to over 140 countries as a highly trusted manufacturer and supplier of conductors, a wide variety of cables, speciality oils, polymers and lubricants, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.