The stocks of Amara Raja Batteries Ltd fell over 6 percent on the BSE on Tuesday after 14 per cent equity changed hands in a block deal.
The shares of the Hyderabad-based company’s stocks witnessed the highest fall in seven months to ₹642.75 against the previous close of ₹684.85 on BSE. The details of buyers and sellers in the block deal are not known yet. According to reports, the shares were sold at an average of ₹654 apiece, taking the total deal value to ₹1,788.3 crore.
Clarios ARBL Holding LP is believed to have sold its entire 14 per cent stake in Amara Raja Batteries shares.
Amara Raja Batteries posted a consolidated net profit of ₹139.4 crore in Q4FY23, registering a growth of 41 per cent year-on-year. It is the second-largest automotive battery manufacturer in the country.