Morgan Stanley maintained an underweight rating on Amara Raja with a target price of Rs 967. MS thinks that the company now matches Exide on capability but needs to catch up on customer wins and in the ramp-up timeline.
Around nine equity mutual funds are down by more than 15% from their respective 52-week high NAV.
Gold prices jumped Rs 350 to Rs 79,200 per 10 grams in the national capital on Friday on the back of continued buying by jewellers
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