Shares of Amara Raja Batteries slumped on Monday after the company reported Q4 results below analyst\u2019 estimates. The shares slid as much as 9.1% to Rs 756.45, registering their biggest intraday fall since November-16. Amara Raja Batteries' profit after tax was up 17.5% to Rs 174 crore as against Rs 148 crore. Taking stock of the results, Morgan Stanley said that Q4 margins dipped, driven by higher lead prices. The research firm has maintains "overweight\u201d on the shares, a a share price target of Rs \u00a01,065. \u201cHowever, margins can move up as lead prices have corrected and higher margin replacement sales could pick up in FY 2019,\u201d Morgan Stanley said. According to a Reuters report, 13 of the 21 analysts covering the stock have a "buy" or higher rating, 4 have "hold" while 4 rate it at "sell" or lower. The median price target is Rs 897.50, Reuters said in a report. \u201cThe 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,\u201d Mr Jayadev Galla, Vice Chairman & Managing Director, Amara Raja Batteries said, according to the company\u2019s statement on the exchanges. In the latest quarter, margins came in below estimates due to higher RM costs. Notably, the revenues rose 17.5 percent on year to Rs 1,580 crore as against Rs 1,344 crore. The EBITDA rose 14% Rs 210 crore as against Rs 184 crore while operating profit margin (OPM) stood at 13.3 percent as against 13.6 percent. Global research and brokerage firm Nomura has maintained a buy call on the shares with target at Rs 1,046 per share. The firm has estimated a 15 percent CAGR growth in revenues over FY18-20. \u201cThe Company is focused on broad basing the telecom customer portfolio and geographic spread to tap into new opportunities. Coupled with aggressive cost management strategies, this should help us to continue to grow our Industrial battery business,\u201d S Vijayanand, CEO, Amara Raja Batteries said.