Shares of Amara Raja Energy and Exide Industries surged, but analysts warn they are expensive.

From Business Today: 2024-06-25 01:53:03

Shares of battery manufacturers soared to record highs in Tuesday’s trading session with Amara Raja Energy & Mobility Ltd jumping 20% to Rs 1,655.20 and Exide Industries Ltd rising 8.13% to Rs 620. Analysts warn that both stocks appear ‘expensive’ after recent rallies. Market experts advise against fresh investments at current levels. Indian equity benchmarks rose today, led by gains in banks and financials. 11 out of 16 sector gauges were trading in the green, with Nifty Bank and Nifty Financial Services outperforming. Overall market breadth was positive as shares were advancing. Foreign portfolio investors sold Indian shares worth Rs 653.97 crore, while domestic investors offloaded shares worth Rs 820.47 crore.



Read more at Business Today: Amara Raja Energy, Exide Industries shares zoom up to 20% today; here’s what investors should do