Buy Amara Raja Batteries; target of Rs 1095: Motilal Oswal
Motilal Oswal’s research report on Amara Raja Batteries :
AMRJ’s FY17 annual report, themed ‘Expanding Horizons’ highlights initiatives on new technologies, applications and markets. It has prioritized segments such as e -rickshaws, renewable energy, motive power products and exports to keep its growth momentum intact in FY18. Further, it is explo ring and evaluating possibilities of foraying into other technologies even as it continues to strengthen its leadership in the lead -acid space.
Outlook
This will take its total 2W battery capacity to 24m units/year. In addition to the recently -commissioned 2.25m units/year capacity, AMRJ is setting up three additional lines in the 4W segment.
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