India's Apar Industries hits record high, stock overbought

Apar Industries

13/04/2023 07:09

** Shares of conductor manufacturer Apar Industries
 APAR.NS  rise as much as 3.72% to 2,794 rupees, a record high
    ** Co sees sharpest intraday pct gain since April 5; stock
set for second consecutive day of gain if trend holds 
    ** Shares trade above 50-day, 100-day and 200-day moving
averages, indicating bullish momentum
    ** More than 100,810 shares changed hands by 11:27 A.M. IST
vs 30-day average of 154,951 
    ** Relative Strength Index above 70, suggesting stock
overbought 
    ** All three analysts eyeing the stock rate it "strong buy";
median TP 2,260 rupees 
    ** APAR has risen ~55% this year so far after soaring ~130%
last year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))