Amara Raja Batteries is currently trading at Rs. 627.60, up by 9.80 points or 1.59% from its previous closing of Rs. 617.80 on the BSE.
The scrip opened at Rs. 629.80 and has touched a high and low of Rs. 632.15 and Rs. 623.75 respectively. So far 45163 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. 584.45 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 632.15 and Rs. 602.40 respectively. The current market cap of the company is Rs. 10552.80 crore.
The promoters holding in the company stood at 28.06% while Institutions and Non-Institutions held 35.34% and 36.59% respectively.
Amara Raja Batteries is planning to invest in InoBat Auto (InoBat), a European technology developer and manufacturer of premium innovative batteries for E-mobility. The initial investment will give Amara Raja a key foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being set up to support the region’s determined EV push, including in the UK, which is seeing a rising need to address increasing demand for electric vehicles.
This strategic step will significantly enable Amara Raja, which laid out its ambitions in the green technology space as part of its bold ‘Energy and Mobility’ strategy earlier this year, access expertise that will help deploy the required technologies for the manufacture of batteries for E-Mobility applications. The investment thereby will open new R&D avenues for the Company while allowing it to adapt InoBat’s highly innovative battery technology to the markets that Amara Raja already serves.
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.