Friday , September 24 2021

Amara Raja Batteries gains on planning to invest $1 billion in 5-7 years towards capex

Amara Raja Batteries is currently trading at Rs. 735.65, up by 7.20 points or 0.99% from its previous closing of Rs. 728.45 on the BSE.

The scrip opened at Rs. 736.40 and has touched a high and low of Rs. 736.40 and Rs. 729.50 respectively. So far 4772 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1025.00 on 15-Jan-2021 and a 52 week low of Rs. 693.00 on 30-Jul-2021.

Last one week high and low of the scrip stood at Rs. 737.50 and Rs. 711.45 respectively. The current market cap of the company is Rs. 12442.84 crore.

The promoters holding in the company stood at 28.06%, while Institutions and Non-Institutions held 37.34% and 34.60% respectively.

Amara Raja Batteries is planning to invest about $1 billion in the next five to seven years towards capex to be spent for both organic and inorganic growth. The company would be focusing more on the new- age energy storage systems such as Lithium-ion Technology keeping in view of the market trends as Lead Acid battery market growth rate is expected to taper off over a period of time.

In May, the Centre approved the PLI (Production Linked Incentives) scheme for manufacturing ACC (Advanced Chemistry Cell) batteries at an estimated outlay of Rs 18,100 crore.

Amara Raja Batteries is the flagship company of the group and is engaged in manufacturing of industrial and automotive batteries. The company was first to introduce Valve Regulated Lead Acid (VRLA) batteries with three year warranty in industrial and automotive applications.

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