Amara Raja Batteries hits record high after decent Q2 earnings

Amara Raja Batteries rose 3.03% to Rs 716.30 at 11:54 IST on BSE after net profit rose 6.05% to Rs 100.30 crore on 31.51% increase in total income to Rs 1071.17 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during trading hours today, 11 November 2014.

Meanwhile, the BSE Sensex was down 19.67 points, or 0.07%, to 27,855.06.

On BSE, so far 1.61 lakh shares were traded in the counter, compared with an average volume of 29,792 shares in the past one quarter.

The stock hit a high of Rs 720 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 697 so far during the day. The stock hit a 52-week low of Rs 305.10 on 11 November 2013.

The stock had outperformed the market over the past one month till 10 November 2014, rising 19.40% compared with 6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.20% as against Sensex's 10.05% rise.

The large-cap company has an equity capital of Rs 17.08 crore. Face value per share is Re 1.

In a separate announcement during trading hours today, 11 November 2014, Amara Raja Batteries said that its board approved setting up of a plant for manufacturing tabular batteries.

Amara Raja Batteries is one of the largest manufacturers of lead acid batteries for both industrial and automotive applications in the Indian storage battery industry.

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