Amara Raja at low valuations: Why the organized battery leader is stock pick of the week
Synopsis
Amara Raja is a strong player in the replacement battery market and is expected to benefit from the emerging replacement demand surge. Besides, its effort to increase its market share in OEM is also gaining traction which has made the company a favourite of analysts.
After remaining on the sidelines, Amara Raja Batteries is making a comeback as analysts’ favourite, after reporting better than expected results for the fourth quarter of 2020-21. Though its immediate demand outlook is hazy due to covid, its medium-term demand outlook remains strong. Since batteries are usually replaced every 3-4 years, the demand fall in one quarter will get compensated in the quarters to come. Also, given the fact that Amara
Data showed four of eight stocks, where retail investors hiked stakes by over 100 basis points during the March quarter, delivered negative returns between 18 per cent and 44 per cent.
Nifty traded in a tight range of 111 points to end below the 15,700 level. It formed a small bearish candle on the daily chart with a long lower wick, indicating buying at lower levels. Analysts said the index was showing lack of strength at higher levels with some indicators sending overbought signals. Will the Nifty gain strength this week and move towards the 15,800-15,900 zone?
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