Sell Amara Raja Batteries with a target at Rs 890: Jay Thakkar

Jay Thakkar of Sharekhan recommends a sell rating on Amara Raja Batteries with a target price of Rs 890 and a strict stop loss placed at Rs 970 in intra-day trade. The stock has gained 8 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Amara Raja Batteries is a low beta stock (0.92) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 900.44, Rs 879.44, and Rs 911.28 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 33.35 and P/B of 9.44.