Small Cap Stock Hits New 52-Week High, Witnesses Heavy Buying

Small cap stock, Apar Industries traded its new 52-week high and locked in 10% upper circuit on March 31, 2023. Also, the stock also registered spurt in volume by over 3.91%. The stock gave 92% return in last 6-months and 284% return in last 1-year. Check details below:

Apar Industries Stock Performance: Last trading price of the stock on BSE is Rs 2503.35 apiece. The stock hit 10% upper circuit in trade on Friday i.e. March 31, 2023. The stock's 52-week high price is quoted at Rs 2505.60 apiece and 52-week low price is quoted at Rs 558.60 apiece, respectively. It has a market capitalisation of Rs 9,579.97 crore.

Apar Industries Return & Financial Performance: It witnessed heavy buying. The stock rallied 36% in last 3-months, 427% in last 2-years, 769% in last 3-years, and 245% in last 5-years. The company for the quarter ended December 31, 2022 declared its consolidated total income at Rs 3,945.55 crore, up 21.51 % from last quarter total income of Rs 3,247.10 crore. It declared its net profit after tax at Rs 169.90 crore in latest quarter.

Apar Industries Likely To Benefit From Govt Infra Push: The government has decided to continue with its infrastructure push. Earlier this year, Finance Minister Nirmala Sitharaman announced raising capital expenditure by 33% to Rs 10 lakh crore for infrastructure development for 2023-24 and it will be at 3.3 per cent of GDP, according to report. Government has renewed its focus on infrastructure and the focus is expected to shift to growth in renewables and energy transition. Apar Industries is expected to benefit from these moves of government.

About APAR Industries: It 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 traded its new 52-week high and locked in upper circuit. Greynium Information Technologies and the author 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.