Multibagger power stock hits record high as Q4 net profit zooms 194%

Shares of power equipment major Apar Industries Ltd hit a record high on Monday after the firm reported its March 2023 quarter and fiscal earnings. Apar Industries stock zoomed 12.09% to Rs 3,296.4 on BSE today. The stock opened flat at Rs 2,940 today against the previous close of Rs 2940.80 on BSE. In terms of technicals, the relative strength index (RSI) of the stock stands at 68.2, signaling it's neither trading in overbought nor in oversold territory.  Apar Industries shares have a beta of 0.9, indicating low volatility in a year. Apar Industries shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.   

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