Amara Raja revvs up

Amara Raja Batteries, which has closed yesterday at Rs.617.80, rose 2.5% to an intraday high at Rs.632.15 on the back of a 1.25 times rise in volumes. Its 52-week high is at Rs.1025, hit on 15th Jan’21.

The company announced today morning that it plans to invest in InoBat Auto (“InoBat”), a European technology developer and manufacturer of premium innovative batteries for E-mobility.

The initial investment will give Amara Raja a key foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being set up to support the region’s determined EV push, including in the UK, which is seeing a rising need to address increasing demand for electric vehicles.