Record High Dividend of Rs 5.10: July 18 - Record Date; Large Cap Auto Stock A Good Deal?

Within the Indian storage battery business, Amara Raja Energy & Mobility Limited, the flagship firm of the Amara Raja Group, is a pioneer in the field and one of the largest producers of lead-acid batteries for automotive and industrial use. Preeminent OEMs include Maruti Suzuki India Limited, Hyundai Motors India Limited, Ford India Limited, Tata Motors Limited, Mahindra and Mahindra Limited, Honda Cars India Limited, Renault Nissan, Honda Motorcycles & Scooters India Private Ltd, Royal Enfield, Bajaj Auto Ltd, and numerous others that are clients of Amara Raja Energy & Mobility Limited. The company exports its automotive and industrial batteries to fifty different nations worldwide. Li-ion cells, battery packs, and charging solutions for Light Electric Vehicles and the telecom sector are provided by Amara Raja Energy and Mobility in the country.

Amara Raja Energy & Mobility Upcoming Dividend

"The 39th Annual General Meeting of the Company is scheduled to be held on Saturday, August 3, 2024. The Register of Members and Share Transfer Books of the Company will remain closed from Friday, July 19, 2024, to Thursday, July 25, 2024 (both days inclusive) for the purpose of the Annual General Meeting and Dividend. Record date for the purpose of final dividend of Rs. 5.10/- per equity share (representing 510%) of Rs.1/- each fully paid up for the financial year 2023-24 is Thursday, July 18, 2024," said the company in a regulatory filing.

Amara Raja Energy & Mobility Q1FY25 Result Date

"We hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, August 3, 2024, inter-alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2024. Further, we hereby inform that pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company's Code of Conduct to regulate, monitor and report trading of designated persons, the trading window for dealing in the securities of the Company will be closed from Monday, July 1, 2024, to Monday, August 5, 2024 (both days inclusive)," said Amara Raja Energy & Mobility in a stock exchange filing.

Amara Raja Energy & Mobility Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "Amara Raja Energy Mob is currently trading at Rs 1699, trading near an all-time high level. This upward momentum is supported by a consistent pattern of higher highs and higher lows on the daily chart, accompanied by robust trading volume. These patterns underscore a strong upward trajectory in the stock. The Relative Strength Index (RSI) stands at 73 and is on an upward trend, signifying a significant surge in buying momentum. Both RSI and Stochastic RSI in the overbought region suggest that positional traders may consider holding their positions, implementing a trailing stop-loss."

"The overall trend for ARE_M is bullish, with confluence from various technical indicators reinforcing the optimistic outlook. Given these signals, there is potential for the stock to achieve a target price of Rs 2030 in the near term. It is advisable to consider buying on dips, particularly around Rs 1540, capitalizing on potential retracements in the stock price. To prudently manage risk, implementing a stop-loss (SL) at Rs 1400 is recommended. This precautionary measure is crucial to safeguard investments in the event of an unexpected market reversal," the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.