Sell Amara Raja Batteries, target Rs 629: Jay Thakkar

Jay Thakkar of Anand Rathi has a sell call on Amara Raja Batteries Ltd. with a target price of Rs 629. The current market price of Amara Raja Batteries Ltd. is Rs 650.35 Time period given by analyst is Intra Day when Amara Raja Batteries Ltd. price can reach defined target. Jay Thakkar recommended to keep stoploss at Rs 657.
Amara Raja Batteries Ltd., incorporated in 1985, has a market cap of Rs 11086.59 crore.

Amara Raja Batteries Ltd. key Products/Revenue Segments include Batteries (Storage) which contributed Rs 6633.40 Crore to Sales Value (97.64 % of Total Sales), UPS/Uninterruptible Power Supply Systems which contributed Rs 75.66 Crore to Sales Value (1.11 % of Total Sales), Sale of services which contributed Rs 60.44 Crore to Sales Value (0.88 % of Total Sales), Export Incentives which contributed Rs 22.40 Crore to Sales Value (0.32 % of Total Sales) and Scrap which contributed Rs 1.21 Crore to Sales Value (0.01 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 1814.95 Crore, up 15.84 % from last quarter Sales of Rs 1566.73 Crore and unchanged .00 % from last year same quarter Sales of Rs Crore Company has reported net profit after tax of Rs 140.73 Crore in latest quarter. The company’s top management includes Dr.Ramachandra N Galla, Mr.Jayadev Galla, Mr.N Sri Vishnu Raju, Mr.Nagarjun Valluripalli, Mr.T R Narayanaswamy, Ms.Bhairavi Tushar Jani. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-06-2019, the company has a total of 170,812,500 shares outstanding.