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Amara Raja dips 5% on reports of Brookfield re-evaluating investment

Brookfield was re-evaluating its investment plans in the Indian batteries market due to "technological uncertainties".

Amara Raja falls 5%
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Amara Raja falls 5%

SI Reporter New Delhi
Shares of Amara Raja Batteries slipped up to 5 per cent to trade at Rs 581 apiece on the BSE on Thursday after reports suggested global asset management company Brookfield was reconsidering its investment in the auto equipment company. The stock of auto ancillary company was trading close to its 52-week low price of Rs 573 touched on June 20, 2019 in intra-day trade.

"Brookfield was actively evaluating its involvement with Amara Raja and was assessing how best it could position Clarios' participation in India," the AMC said in a filing at the US' Securities and Exchange Commission (SEC).

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First Published: Aug 29 2019 | 11:39 AM IST

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