Amara Raja Batteries shares declined around 3 per cent on Tuesday after Goldman Sachs downgraded Amara Raja Batteries to ‘neutral’ from ‘buy’ citing limited upside post recent outperformance.
The share price of the Amara Raja closed 2.96 per cent down at Rs 899.15.
In the past one month, the share price of Amara Raja Batteries jumped 5.3 per cent to Rs 926.60 on September 7 while the BSE Sensex declined 11.64 per cent during the same period.
According to Eikon data, stock has 14 buys, seven holds and 1 sell rating.
For the quarter ended June 2015, the company posted net profit of Rs 122.09 crore, up 15.22 per cent, against Rs 105.96 crore in the corresponding quarter a year ago.
(With inputs from Reuters)