India's Apar Industries up; Prabhudas Lilladher upgrades to 'Buy'

Apar Industries

30/08/2024 10:28

** Shares of Apar Industries  APAR.NS  rise 2.3% to 9,152.2
rupees, its highest since late-July 
    ** Brokerage Prabhudas Lilladher upgrades rating to "Buy"
from "Accumulate" earlier, keeps PT at 10,399 rupees 
    ** PT highest among three brokerages covering the stock, per
LSEG data 
    ** Sees strong transmission and distribution capex as key
driver for growth across segments for APAR, citing co's investor
day meet 
    ** Upbeat on co's focus on premium conductors, healthy
traction in cables used in renewables, defence and railways,
market leadership in the growing T-oils business 
    ** Railway modernisation, substantial export opportunities
in conventional conductors will further aid growth - Prabhudas
Lilladher 
    ** Stock eyes busiest trading day in 21 sessions, volumes at
1.8x the 30-day avg 
    ** Including session's gains, stock up 52% YTD 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))