We attended the virtual Amara Raja Batteries (ARBL) investor event wherein the company laid out its plans on maximising lead acid battery (LAB) business potential and exploring the upcoming opportunity presented by the mega change i.e. lithium-ion batteries (LIB). With limited organic growth prospects in the LAB domain amid increasing pace of adoption of electric vehicles, ARBL expressed its intent to scout for a partnership (technology partner, JV, etc) and venture into Li-On cell manufacturing domestically. It is envisaging setting up a globally competitive facility with capacity of ~10 GWh at a potential capex outlay of ~US$1billion, over a period of time.
For details, click on the link below: Link to the report
Shares of AMARA RAJA BATTERIES LTD. was last trading in BSE at Rs.772 as compared to the previous close of Rs. 784.65. The total number of shares traded during the day was 178050 in over 11020 trades.
The stock hit an intraday high of Rs. 791.7 and intraday low of 770. The net turnover during the day was Rs. 138709217.