Buy Amara Raja Batteries, target Rs 785: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Amara Raja Batteries Ltd. with a target price of Rs 785. The current market price of Amara Raja Batteries Ltd. is Rs 770.1 Time period given by the analyst is Intra Day when Amara Raja Batteries Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 760. Amara Raja Batteries Ltd., incorporated in 1985, is a midcap company with a market cap of Rs 13154.27 crore.

Amara Raja Batteries Ltd. key Products/Revenue Segments include Batteries (Storage) which contributed Rs 5891.66 Crore to Sales Value (98.49 % of Total Sales), Sale of services which contributed Rs 45.88 Crore to Sales Value (0.76 % of Total Sales), UPS/Uninterruptible Power Supply Systems which contributed Rs 28.95 Crore to Sales Value (0.48 % of Total Sales), Export Incentives which contributed Rs 13.49 Crore to Sales Value (0.22 % of Total Sales) and Scrap which contributed Rs 1.41 Crore to Sales Value (0.02 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 1778.67 Crore, up 12.52 % from last quarter Sales of Rs 1580.74 Crore and up 18.78 % from last year same quarter Sales of Rs 1497.45 Crore Company has reported net profit after tax of Rs 113.03 Crore in latest quarter. The company’s top management includes Dr.Ramachandra N Galla, Mr.Claudio Morfe, Mr.Jayadev Galla, Mr.Marc D Andraca, Mr.N Sri Vishnu Raju, Mr.Nagarjun Valluripalli, Mr.T R Narayanaswamy, Ms.Bhairavi Tushar Jani. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-09-2018, the company has a total of 170,812,500 shares outstanding.