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New Delhi: Shares of tanked as much as 6 per cent on Tuesday after the car battery maker Clarios announced that it would offload 1.71 crore shares of the company via block deal.
The floor price for the deal was set at 746 a piece, 4.8 per cent discount to the Monday's close. The counter plunged 6 per cent to Rs 736.65 on Tuesday. However, it recovered to Rs 744.50 at 11.55 am.
As of March 31, 2021, Clarios ARBL Holding LP held a 40,995,000 shares or 24% stake in Amara Raja Batteries, the shareholding pattern data from BSE shows. It is selling 10% stake in the company via block deals.
The company posted a 38 per cent rise in consolidated profit after tax rose to Rs 189 crore for the quarter ended March 31, 2021 on the back of robust sales across business verticals. The company had reported a net profit after tax of Rs 137 crore for the January-March quarter of 2019-20.
Net revenue from operations stood at Rs 2,103 crore as against Rs 1,581 crore in the fourth quarter of 2019-20, Amara Raja Batteries said in a statement. Amara Raja Batteries announced its Q4 results this Saturday.
For the entire 2020-21 fiscal, the company posted a net profit after tax of Rs 647 crore as compared to Rs 661 crore in FY20. Net revenue from operations for the last fiscal rose to Rs 7,150 crore as against Rs 6,839 crore in 2019-20.
Domestic brokerage firm Motilal Oswal Securities has a neutral call on Amara Raja Batteries with a target price of Rs 870.
The floor price for the deal was set at 746 a piece, 4.8 per cent discount to the Monday's close. The counter plunged 6 per cent to Rs 736.65 on Tuesday. However, it recovered to Rs 744.50 at 11.55 am.
As of March 31, 2021, Clarios ARBL Holding LP held a 40,995,000 shares or 24% stake in Amara Raja Batteries, the shareholding pattern data from BSE shows. It is selling 10% stake in the company via block deals.
The company posted a 38 per cent rise in consolidated profit after tax rose to Rs 189 crore for the quarter ended March 31, 2021 on the back of robust sales across business verticals. The company had reported a net profit after tax of Rs 137 crore for the January-March quarter of 2019-20.
Net revenue from operations stood at Rs 2,103 crore as against Rs 1,581 crore in the fourth quarter of 2019-20, Amara Raja Batteries said in a statement. Amara Raja Batteries announced its Q4 results this Saturday.
For the entire 2020-21 fiscal, the company posted a net profit after tax of Rs 647 crore as compared to Rs 661 crore in FY20. Net revenue from operations for the last fiscal rose to Rs 7,150 crore as against Rs 6,839 crore in 2019-20.
Domestic brokerage firm Motilal Oswal Securities has a neutral call on Amara Raja Batteries with a target price of Rs 870.
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