Sell Amara Raja Batteries Futures with a target at Rs 892: Jay Thakkar

Jay Thakkar of Sharekhan recommends a sell rating on Amara Raja Batteries with a target price of Rs 892 and a strict stop loss placed at Rs 970. The stock has gained 8.69 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Amara Raja Batteries is a high beta stock (1.04) and is trading well above its 50-day, 100-day and 200-day moving averages placed at Rs 898.76, 872.60 and 908.62 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 33.56 and P/B of 9.54.