Sell Amara Raja Batteries, target price Rs 522: ICICI Direct

ICICI Direct has sell call on Amara Raja Batteries with a target price of Rs 522. The current market price of Amara Raja Batteries is Rs 545.75. Time period given by analyst is Intra Day when Amara Raja Batteries Ltd. price can reach defined target.

Amara Raja Batteries Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 9254.62 Crore) operating in Auto Ancillaries sector.

Amara Raja Batteries Ltd. key Products/Revenue Segments include Batteries (Storage), UPS/Uninterruptible Power Supply Systems, Sale of services, Export Incentives and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2384.82 Crore, up 4.11 % from last quarter Total Income of Rs 2290.59 Crore and up 19.50 % from last year same quarter Total Income of Rs 1995.63 Crore. Company reported net profit after tax of Rs 145.30 Crore in latest quarter.

Investment Rationale
Breakdown below bearish flag-like formation as stock facing stiff hurdle at the 50 days EMA

Promoter/FII Holdings
Promoters held 28.06 per cent stake in the company as of 31-Dec-2021, while FIIs owned 19.8 per cent, DIIs 11.67 per cent.