“The buoyancy in automotive sector presents us significant opportunities to continue our own growth momentum. This has helped the company to offset some of the impact due to subdued telecom demand. The electric mobility and energy storage opportunities will open up new growth avenues for us and we will continue to invest in strengthening the brands, distribution channels, technology and manufacturing capacities to further consolidate our market position,” said Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries.
At 11:30 am; the stock was trading 6% lower at Rs 777 on the BSE, against 0.21% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.21 million shares changed hands on the BSE and NSE so far.