India, Sept. 15 -- The company has gained from rising transmission and renewable-energy capex, while its conductor, cable and specialty-oil businesses provide multiple growth avenues. The stock has delivered strong returns over the past year, but the key question is whether its improving business mix, high return ratios, and future growth prospects are sufficient to justify the premium valuation.

With a market capitalization of around Rs69,508 crore, APAR Industries Ltd.'s share price is trading at around Rs16,600 per share,and trading at a PE of approximately 57x, while the 5 year median PE is around 28.7. The stock has gained over 100 percent in the past year, highlighting the significant re-rating already priced into the company.

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