Apar Industries' share price rallies 11%. But cracks remain

After weeks of going nowhere but down, Apar Industries finally gave investors something to cheer about. The stock shot up nearly 11 per cent on May 8 to hit Rs 6,347 intraday on the BSE. This comes just weeks after the stock had crashed to Rs 5,028 — down more than 50 per cent from its January peak of Rs 11,779. A relief rally? Maybe. But with quarterly results around the corner (due May 13), many are just watching from the sidelines. What does Apar Industries do? Apar Industries is no small fish. It's India's top manufacturer of conductors, transformer oils, and cables — critical components for the power and infrastructure sectors. Its products power everything from electric grids to wind farms, and it exports to over 125 countries. Business-wise, Apar has been riding the power capex boom. But that didn't stop the stock from losing more than half its value in just four months. So, what's driving the sudden spike? A few reasons: Orde