Amara Raja Energy: After the historic fall last Tuesday, the Indian stock market once again saw a tremendous recovery on Wednesday. Amidst this stormy boom, the shares of Amara Raja Energy Company were also seen rising like a rocket. This company is associated with Chandrababu Naidu’s Telugu Desam Party (TDP).
how is the connection
The managing director (MD) of Amara Raja is Galla Jayadev. He is also known as Jai Galla. He is a former leader of TDP parliamentary party. The two-time MP and Amara Raja group chief has decided not to contest the Lok Sabha elections this year. According to the shareholding pattern of the company, the promoters’ stake is 32.86. RN Galla Family Private Limited holds the entire stake in the promoter. Public shareholders hold 67.14 percent shares of the company.
This company will distribute shares for free, it is loot to buy shares, price came at ₹ 188
share status
Shares of Amara Raja rose 14 per cent to ₹1232 in afternoon trade on BSE. At the end of trading the shares closed at Rs 1216. Shares were up 12.27% from a day earlier. Let us tell you that on May 29, the share price reached Rs 1,278. This is the 52-week high of the stock. The 52 week low of the share is Rs 599. This stock went to this level in October 2024.
TDP plays an important role in the government
After the BJP alliance got majority in the Lok Sabha elections, the efforts to form the government have started. Chandrababu Naidu’s Telugu Desam Party (TDP) will play an important role in this new coalition government. At the same time, after getting an overwhelming majority in the Andhra Pradesh Assembly, TDP is forming the government in the state. Let us tell you that TDP contested 17 Lok Sabha seats and won 16 seats.
This firm came into the hands of a giant company, deal for ₹ 11.6 crores, investors broke on shares
What do experts say
DRS Finvest founder and equity market expert Ravi Singh believes that the stock may see further upside. Singh has given a target price of ₹1350 for Amara Raja Energy stock.
Let us inform you that in the fourth quarter of FY24, Amara Raja recorded a year-on-year growth of 61.4 percent in profit, which reached ₹230 crore. Revenue from operations increased by 19.5 percent to ₹2908 crore. This was ₹2433 crore in the same period last year. The company’s EBITDA increased by 16.2 percent to ₹410 crore.
