Neutral Amara Raja Batteries, target Rs 926: Goldman Sachs

Goldman Sachs maintains a neutral rating on Amara Raja Batteries but raised its 12-month target price to Rs 926 from Rs 824 earlier.

The global brokerage firm believe that the Street is overly concerned about the fourth quarter miss in margins and topline growth. The Street is ignoring longer-term strong growth opportunities.

The global brokerage firm sees growth opportunities in high margin replacement and inverter segment. However, growth in automotive segment also continues to remain strong.
Goldman Sachs expect margins to improve on account of improving product mix.