Amara Raja up 18 percent, why is this stock attracting investors

Amara Raja Energy & Mobility Ltd's shares were in the spotlight following this year's election results. This stock is once again receiving a lot of attention from investors. Yes, the shares of Amara Raja Energy & Mobility Limited gained pace during the trading session on Tuesday, June 25, 2024.

Amara Raja's stock is up more than 20% today. The company's shares climbed 19.99 percent in early trade to a 52-week high of Rs 1,655.20 on the BSE. At the same time, the stock soared 19.99 percent to Rs 1,656.05 on the NSE, a 52-week high.

Amara Raja Advanced Cell Technologies Pvt Ltd, owned by Amara Raja, has entered into a licensing agreement with GIB Energy X Slovakia. This agreement has been done for lithium-ion cells technology.

Amara Raja said in this agreement that Amara Raja Advanced Cell Technologies (ARACT) has entered into an agreement with GIB Energy X, a subsidiary of Goshan Hi-Tech Company Limited.

In this agreement, the company will license LFP technology for lithium-ion cells to ARACT. This agreement will help Amara Raja to create world class LFP cells.

If we talk about the performance of Amara Raja's stock, the company's stock has given tremendous returns in the last 6 months. On 26 December 2023, the company's shares were Rs 769.60, whose price has increased to Rs 1655.20 today.

At the same time, in the last one year, the company has given a return of 151.82 percent to the investors. At the same time, the company's stock has jumped by 33.03 percent in 1 month.