Amara Raja stock jumps 2% today on bulk buying after yesterday’s fall; check who bought, sold shares on Tues Amara Raja Batteries share price jumped as much as 1.8% to Rs 654.4 today after over 1 crore shares changed hands on Tuesday, July 18. The company’s stock fell over 6% in the previous session after Clarios ARBL Holding LP sold 23.91 million shares at an average price of Rs 652.97 per share totalling Rs 15.61 billion. Meanwhile, BNP Paribas Arbitrage bought 2.5 million shares at an average price of Rs 652, totalling Rs 1.63 billion; Kotak Mahindra Mutual Fund purchased 920,245 shares at Rs 652 per share, totalling Rs 600 million; Nippon India Mutual Fund bought 1.46 million shares at Rs 652 per share, totalling Rs 951.83 million; Pinebridge Inv Asia Limited A/c Pb Global Funds – Pinebridge India Eqfund bought 1 million shares at Rs 651.98 per share, totalling Rs 651.98 million; Societe Generale purchased 4.2 million shares at Rs 652, totalling Rs 2.74 billion; Tata Aia Life Insurance Company Ltd bought 2 million shares at Rs 652, totalling Rs 1.3 billion. Amara Raja Batteries stock has fallen over 6% in the last one week while it has jumped 14.5% in the last six months. At the current price of Rs 654.45 per share, the company’s market capitalisation stands at Rs 11,178.82 crore. The stock hit a 52-week high of Rs 708.45 on 6 July 2023 and 52-week low of Rs 461.65 on 27 July 2022. Today, the stock touched an intraday high of Rs 656 and a low of Rs 645.65.
The launched works involve rehabilitating the Galgamuwa Railway Station and upgrading the railway line from Maho to Anuradhapura, including additional tasks. Another project is the second phase of track rehabilitation from Maho to Omanthai (128 kms), funded by a $318 million Indian Line of Credit.
Transport Minister Gunawardena praised the efforts of Indian company IRCON in Sri Lanka and called for more cooperation in the railway sector. State Minister Shantha Bandara and officials from the Sri Lankan Ministry of Transport attended the event.
Railways is a priority for Indian assistance in Sri Lanka, with over $1 billion invested under five Indian Lines of Credit. IRCON has been involved in Sri Lanks since 2009. It has contributed to the modernisation of Sri Lanka Railways by reconstructing the entire railway line network in the Northern Province (253 Km) and upgradation of the Southern line (115 km), as well as improving safety through advanced signalling and telecommunication systems.
Despite Sri Lanka’s debt standstill in April 2022, India’s support under various Lines of Credit has continued.
(With PTI inputs)