Amara Raja Batteries falls 5% on ending partnership with Johnson Controls

The stock dipped 5 per cent to Rs 685 on the BSE in intra-day deal on Wednesday and was trading close to its 52-week low value of Rs 671 touched on December 11, 2018.

Shares of Amara Raja Batteries dipped 5 per cent to Rs 685 on the BSE in intra-day trade on Wednesday after the company terminated shareholders agreement between Galla Family and Johnson Controls (JC) and consequent termination of other agreements entered by the Company with JC.

The stock of auto ancillary company was trading close to its 52-week low value of Rs 671 touched on December 11, 2018, on the BSE. The trading volumes on the counter surged more than three times with a combined 2.16 million shares changing hands on the BSE and NSE so far.

Amara Raja Batteries said