Shares of the Apar Industries jumped 16.15% in five trading sessions from its recent closing low of Rs 8,946.80 on 6 September 2024.
The stock hit an all-time high of Rs 10,504.10 today. The counter has zoomed 130.86% from its 52-week low of Rs 4,550 hit on 26 October 2023.
On the BSE, 3,700 shares were traded in the counter so far compared with average daily volumes of 11,844 shares in the past two weeks.
The stock had outperformed the market over the past one month, rising 21.99% as against Sensex's 4.99% increase.
The scrip had outperformed the market in past three months, jumping 22.44% as against 7.92% rise in Sensex.
The counter had also outperformed the market in past one year, soaring 113.6% as against Sensex's 22.87% surge.
On the technical front, the stock's daily RSI (relative strength index) stood at 77.253. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 8,721.96, 8,383.09 and 7,216.72, respectively. These levels will act as crucial support zones in near term.
Apar Industries is a diversified billion-dollar conglomerate with a strong presence in over 140 countries. As the largest aluminium and alloy conductor manufacturer and the 3rd largest transformer oil manufacturer, the company enjoys a leadership position in the global markets. APAR also offers over 350 grades of speciality oils, the largest range of speciality cables, lubricants, speciality automotive and polymers.
The company reported a consolidated net profit of Rs 202.54 crore in Q1 FY25, up 2.6% from Rs 197.43 crore recorded in Q1 FY24. Net sales grew by 6.6% year on year to Rs 3983.85 crore during the quarter.