Amara Raja Batteries shares fell nearly 6% after around 24.6 million shares. Instead of a 14% stake, the company changed hands in the early trading hours.

At 9:45 am, shares traded 5.7% lower at Rs 645.60 on the BSE.
Clarios ARBL Holding LP has sold its 14% stake in Amara Raja Batteries through a block deal today. The floor price was set at Rs 651 per share. Clarios ARBL Holding LP held the stake under foreign direct investment, the shareholding pattern presented.

This stake sale comes two years after Clarios had reduced its shareholding by 10% in Amara Raja. It implemented a block deal in May 2021 to sell 1.71 crore shares.

The company will announce its quarterly numbers on August 12. Given the upsurge in OEM production and additional demand, analysts expect the income to recover sequentially.

A steady raw material cost trend will help expand the operating margin on a QoQ basis.