Amara Raja Batteries down 4% intra day after Clarios offloads stake

The share price of Amara Raja Batteries was down over 4 percent intraday on May 25.

As per exchange data, around 19 percent stake in the firm changed hands on the NSE and the BSE combined. Nearly 3 crore shares or 17 percent stake changed hands on the NSE.

The stock fell as much as 6 percent to its day's low of Rs 736.65 per share on the BSE.

At 2.04 PM, the share price was down 43.25 points or 5.52 percent at Rs 739.80 on the NSE. On the BSE, the share was trading 44.15 points or 5.63 percent at Rs 739.60.

According to a CNBC-TV18 report, after battery maker Clarios ARBL Holding LP was to sell 17.1 million shares for an aggregate of $174 million today. The floor price for the same had been fixed at Rs 746 per share.

As of March 31, 2021, Clarios held a 41 million or 24 percent stake in Amara Raja Batteries, the shareholding pattern data shows.

The stock was trading at Rs 745.55, down Rs 38.20, or 4.87 percent at 10:25 hours. It has touched an intraday high of Rs 755.10 and an intraday low of Rs 736.65.

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