New Delhi, May 16 -- While the Indian stock market extended its strong performance into May, some previously underperforming stocks have also begun to rebound and join the rally, with Apar Industries being one such stock.

After taking a severe beating from Dalal Street investors between January and April due to concerns over rich valuations, the stock has staged a stellar rebound in May-gaining 48% so far-and has emerged as one of the best turnaround stocks in recent months.

During this period, Apar Industries' share price has risen from Rs.5,603 apiece to Rs.8,251, with most of these gains coming after its March quarter results (Q4FY525) surpassed Street estimates.

The company, on May 14, posted a record-high quarterly and annual reve...