India's Apar Industries hits record high after quarterly profit jump

Apar Industries

08/05/2023 10:03

** Shares of conductor manufacturer Apar Industries Ltd
 APAR.NS  rise as much as 12% to a record high of 3,288 rupees 
    ** Co's March-qtr profit nearly triples as revenue grows
faster than expenses
    ** Stock's relative strength index seen above 70, suggesting
it may be overbought
    ** More than 404,000 shares change hands by 02:22 p.m. IST,
2.2x their 30-day avg volume
    ** Stock pares early gains and is now up 3.7%, taking YTD
increase to nearly 70%


($1 = 81.7700 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))