Amara Raja Batteries shares declined over 1.5 per cent in the afternoon trade on Monday after Goldman Sachs downgraded Amara Raja Batteries to ‘neutral’ from ‘buy’ (Photo: Reuters)
Amara Raja Batteries shares declined over 1.5 per cent in the afternoon trade on Monday after Goldman Sachs downgraded Amara Raja Batteries to ‘neutral’ from ‘buy’ citing limited upside post recent outperformance.
At 12.31 pm, Amara Raja Batteries shares were trading 1.68 per cent lower at Rs 911.05. It opened at Rs 926 and touched a high and low of Rs 926 and Rs 879.90, respectively, in trade so far. Sensex was up over 180 points at 25,081.
In the past one month, the share price of Amara Raja Batteries jumped 5.3 per cent to Rs 926.60 on September 7 while the BSE Sensex declined 11.64 per cent during the same period.
According to Eikon data, stock has 14 buys, seven holds and 1 sell rating.
For the quarter ended June 2015, the company posted net profit of Rs 122.09 crore, up 15.22 per cent, against Rs 105.96 crore in the corresponding quarter a year ago.
(With inputs from Reuters)
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