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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
In the company s latest annual report released on Wednesday, he said the company sold minority stakes in Jio Platforms - the unit that houses its telecom and digital business - and retail arm for almost Rs 2 lakh crore, 49 per cent in fuel retailing venture for Rs 7,629 crore and raised another Rs 53,124 crore through rights issue.
Reliance, Motherson Sumi among top trading ideas in June series
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Bank, auto and oil stocks in limelight
Banking and finance, automobile and oil and gas companies are garnering most attention in the June derivatives series. Traders are adding bullish positions in state-owned banks while some metal stocks continue to enjoy bullish interest due to the ongoing rally in commodity prices. Auto stocks are in the limelight due to May sales numbers and corporate earnings. Meanwhile, Reliance Industries stood out in the derivatives segment as traders are covering short positions in the country’s most valuable company and expect it to reclaim re
Amara Raja Batteries stock slips 6% after Clarios offloads stake
Share of Amara Raja Batteries opened with a loss of 3.66% at Rs 755.10 against previous close of Rs 783.75 on BSE
BusinessToday.In | May 25, 2021 | Updated 14:39 IST
Amara Raja Batteries share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Amara Raja Batteries stock fell 6% today after car battery maker Clarios said it would sell 1.71 crore shares of the firm via a block deal. Share of Amara Raja Batteries opened with a loss of 3.66% at Rs 755.10 against previous close of Rs 783.75 on BSE.
Total 46.81 lakh shares changed hands amounting to turnover of Rs 349.88 crore.