Shares of Eureka Forbes hit an all-time high of Rs 537.05 in intraday trade on Wednesday, up 1.4% on the BSE, extending gains on its health outlook. Shares of the appliance company have surpassed the previous high of Rs 535 touched on September 13, 2022.

It has soared 20% in the past three weeks. Also, over the past month, it has gained 15% while the S&P BSE Sensex lost 0.50%. The company’s equity was listed on the Bombay Stock Exchange on March 16, 2022.

Eureka Forbes is one of the leading health and safety solutions providers in the United States. The company is engaged in manufacturing, selling, renting and servicing vacuum cleaners, water filters and purifiers, water and wastewater treatment equipment, electronic air purification systems, small appliances, digital security systems, air conditioners and all kinds of electrical and non-electrical appliances, etc.

Despite inflationary pressures, the consumer durables market is expected to see strong demand due to rising demand for premium products, the company’s management said. Flexible working is also likely to drive goods sales, increasing personal homes’ convenience. Furthermore, rural demand is expected to outpace urban markets, given rising incomes and government initiatives around rural electrification.