Sell Amara Raja Batteries, target price Rs 864: ICICI Direct

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Sell Amara Raja Batteries, target price Rs 864:  ICICI Direct


ICICI Direct has sell call on Batteries with a target price of Rs 864. The current market price of Amara Raja Batteries Ltd. is Rs 874.85.

Amara Raja Batteries Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 14969.15 Crore) operating in Auto Ancillaries sector.

Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 1995.63 Crore, up 2.51 % from last quarter Total Income of Rs 1946.80 Crore and up 13.37 % from last year same quarter Total Income of Rs 1760.28 Crore. Company has reported net profit after tax of Rs 193.69 Crore in latest quarter.


Investment Rationale
Trend line support breached & price reacting lower facing resistance at 50 day EMA


Promoter/FII Holdings
Promoters held 28.1 per cent stake in the company as of Dec 30, 2020, while FIIs held 20.9 per cent, DIIs 14.5 per cent and public and others 36.5 per cent.





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