Nuvama initiates coverage on Apar Industries with Rs 12,700 target, calls it a compounder

Nuvama initiated coverage on Apar Industries with a 'buy' rating and a target price of Rs 12,700, projecting a 25.5% upside. The firm highlights APAR's role in India's T&D capex, strong presence in high-growth sectors, and leadership in conductors, cables, and oils. Despite challenges like global shocks and competition, APAR's market position remains robust.