Amara Raja Batteries shares slip 6% after 2.46 crore shares change hands via multiple block deals
As per Zee Business report, foreign investor Clarios ARBL Holding LP was likely to exit the automotive battery manufacturer via a stake sale in a block deal on July 18.
Shares of Amara Raja Batteries tumbled over 6 per cent after 2.46 crore shares changed hands via multiple block deals. As per Zee Business report, foreign investor Clarios ARBL Holding LP was likely to exit the automotive battery manufacturer via a stake sale in a block deal on July 18.
Shares of Amara Raja Batteries tumbled over 6 per cent after 2.46 crore shares changed hands via multiple block deals. As per Zee Business report, foreign investor Clarios ARBL Holding LP was likely to exit the automotive battery manufacturer via a stake sale in a block deal on July 18.
At around 10:00 AM, shares of Amara Raja Batteries were trading 5.53 per cent lower at Rs 647 apiece. The stock had made a 52-week low on July 27, 2022. The market capitalisation of the company stands at Rs 11,040.47 crore. Amara Raja Batteries shares ended over 6 per cent lower at Rs 642.75 apiece on BSE.
"After making the top near 710 levels AMARAJABAT has given a decent correction of approx.…60 points. Currently, it is trading near the 650 mark (which is also 50 DEMA). Going forward 640-650 zone would be credible support and we may see some bounce from there to 700 levels," said Jigar S Patel - Senior Manager - Technical Research Analyst, Anand Rathi Shares and Stock Brokers.
Amara Raja Batteries Q4 results
The company posted a consolidated net profit of Rs 137.98 crore in Q4FY23, a 41 per cent jump year-on-year (YoY). Amara Raja Batteries' revenue from operations increased by 11.4 per cent to Rs 2,429.4 crore as compared to Rs 2,180.9 crore logged in the same quarter of the previous fiscal year.
Amara Raja Batteries share price: Past performance
In 2023 so far, Amara Raja Batteries' stock has risen over 13 per cent against Nifty50's rise of over 8 per cent. In the past 12 months, the stock has gained over 36 per cent against the headline index's rise of over 21 per cent.
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