{"id":65771,"date":"2022-09-29T13:25:00","date_gmt":"2022-09-29T07:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=65771"},"modified":"2022-09-29T13:21:12","modified_gmt":"2022-09-29T07:51:12","slug":"buy-this-ev-stock-for-a-potential-upside-of-up-to-45-chola-wealth","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/buy-this-ev-stock-for-a-potential-upside-of-up-to-45-chola-wealth\/","title":{"rendered":"Buy this EV stock for a potential upside of up to 45%; Chola Wealth"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2154080072\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Amara Raja Batteries Limited have declined marginally and were trading at Rs 485 levels in the early hours on Thursday. In the past five days, the share has shed approximately 5 percent.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2575328364\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company recently announced its plan for backward integration. It has brought forward a scheme of arrangement that will involve the demerger of plastics components for the battery business from Mangal Industries Ltd (MIL) and merge the division into Amara Raja Batteries Limited (ARBL).&nbsp;<\/p><p>Mangal Industries&#8217; plastics component for the battery sector serves entirely to ARBL, offering plastic containers, covers, minor components, handles, and jars used in batteries with a capacity of over 37,000 MTPA.&nbsp;<\/p><p>After the scheme is implemented, the shareholders of Mangal Industries Ltd as of the record date will receive 65 equity shares of Amara Raja Batteries Limited for every 74 held.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1783148013\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Brokerage firm Chola Wealth is bullish on the EV stock and has a \u2018Buy\u2019 tag with a target price of Rs 700 which represents an upside of 45% from the current levels.&nbsp;<\/strong><\/p><p>In Q1FY23, the Revenue from operations of the company stood at Rs 2,620.53 crore as against Rs 1,886.17 crore in the same quarter last year. Their consolidated net profit was at Rs 132.01 crore in the quarter under review compared to Rs 124.10 crore in Q1FY22.&nbsp;<\/p><p>Amara Raja Batteries is engaged in the manufacturing of industrial and automotive batteries. It has a strong presence across automotive (OEM, aftermarket) and industrial battery space (UPS, telecom, solar, etc).&nbsp;<\/p><p>Some of its clients include big names like Ashok Leyland, Fiat, General Motors, Hindustan Motors, Honda, Hyundai, Mahindra &amp; Mahindra, Maruti, Tata Motors, Daimler Chrysler, and Ford.&nbsp;<\/p><p>The company has a market capitalization of Rs 8,301 crores and a dividend yield of 0.93% as on September 29th, 2022. The promoters hold a 28.06 percent stake in the company and the Foreign Institutional Investors (FIIs) have an 18.34 percent stake.&nbsp;<\/p><p><strong>Written by <\/strong><strong>Anoushka Roy<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-2125855552\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2040314486\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Amara Raja Batteries Limited have declined marginally and were trading at Rs 485 levels in the early hours on Thursday. In the past five days, the share has shed approximately 5 percent.&nbsp; The company recently announced its plan for backward integration. It has brought forward a scheme of arrangement that will involve [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-65771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buy this EV stock for a potential upside of up to 45%; Chola Wealth - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/buy-this-ev-stock-for-a-potential-upside-of-up-to-45-chola-wealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy this EV stock for a potential upside of up to 45%; Chola Wealth\" \/>\n<meta property=\"og:description\" content=\"The shares of Amara Raja Batteries Limited have declined marginally and were trading at Rs 485 levels in the early hours on Thursday. 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