Amara Raja Batteries jumps on bargain hunting

Amara Raja Batteries rose 5.57% to Rs 949.20 at 13:29 IST on BSE on bargain hunting after the stock slumped 16.62% in the preceding 10 trading sessions to Rs 899.15 yesterday, 8 September 2015, from a recent high of Rs 1,078.40 on 25 August 2015.

Meanwhile, the BSE Sensex was up 469.63 points, or 1.85%, to 25,787.50.

On BSE, so far 93,000 shares were traded in the counter, compared with an average volume of 25,819 shares in the past one quarter.

The stock hit a high of Rs 956.30 and a low of Rs 905.10 so far during the day. The stock hit a record high of Rs 1,132 on 25 August 2015. The stock hit a 52-week low of Rs 563 on 13 October 2014.

The stock had outperformed the market over the past one month till 8 September 2015, falling 7.51% compared with 10.34% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.47% as against Sensex's 4.54% decline.

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

Amara Raja Batteries' net profit rose 15.22% to Rs 122.09 crore on 11% growth in net sales to Rs 1137.59 crore in Q1 June 2015 over Q1 June 2014.

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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