Amara Raja Batteries rose 3.79% to Rs 837.80 at 14:15 IST on BSE after the company said it commissioned two-wheeler battery plant in Chittoor, Andhra Pradesh.
The announcement was made during trading hours today, 20 December 2017.Meanwhile, the S&P BSE Sensex was up 25.86 points, or 0.08% to 33,862.60.
On the BSE, 1.39 lakh shares were traded in the counter so far, compared with average daily volumes of 66,157 shares in the past one quarter. The stock had hit a high of Rs 845.50 and a low of Rs 817.50 so far during the day. The stock hit a 52-week high of Rs 954.55 on 17 May 2017. The stock hit a 52-week low of Rs 665.45 on 7 November 2017.
Amara Raja Batteries said that the first phase of the plant which was commissioned will have a capacity of 5 million units. The plant will have an ultimate capacity of 17 million units with an estimated investment of Rs 700 crore taking the total capacity for two-wheeler batteries to 29 million units. The plant will employ 1,300 people at full capacity. It is the most advanced production facility in the country pioneering the use of advanced punched grid making technology for two-wheeler battery manufacturing. The technology ensures best-in-class product performance, higher productivity and improved environmental standards.
Net profit of Amara Raja Batteries declined 6.7% to Rs 127.22 crore on 7.1% rise in net sales to Rs 1427.50 crore in Q2 September 2017 over Q2 September 2016.
Amara Raja Batteries is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
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