Record High: This increase propelled the stock to a new record high of ₹1,656 per share.
Reason: The surge is attributed to a licensing deal signed by Amara Raja’s subsidiary, Amara Raja Advanced Cell Technologies, with GIB EnergyX Slovakia, a subsidiary of the Chinese firm Gotion High-Tech Co. Ltd.
Licensing Deal: This deal grants Amara Raja access to Gotion’s lithium iron phosphate (LFP) technology for lithium-ion cells, which are crucial components in electric vehicles (EVs).
This partnership positions Amara Raja to benefit from the growing EV market and potentially become a major player in lithium-ion cell manufacturing.