Shares of Amara Raja Energy (ARE&M) hit a multi-year high of Rs 1,111 apiece, as they rallied 7 per cent on the Bombay Stock Exchange (BSE) amid heavy volumes on a healthy outlook. The stock is trading close to its record high level of Rs 1,128 touched on August 25, 2015.
Thus far in the month of April, the market price of a comprehensive solutions provider in the Energy & Mobility space has zoomed 37 per cent, as compared to 0.27 per cent rise in the S&P BSE Sensex.
A sharp upward movement saw after South Korean automotive majors Hyundai Motor Company and Kia Corporation announced a partnership with Exide Energy Solutions (EESL), a subsidiary of battery manufacturer Exide Industries, to localise electric vehicle (EV) battery production in India.
