Amara Raja shares hit record high after subsidiary signs licensing deal with GIB

One of the top battery producers in India, Amara Raja, saw its shares rise 20% in early morning trading today to reach a new all-time high of ₹1,656 per share. On Monday, the company announced in an exchange filing that its wholly owned subsidiary, Amara Raja Advanced Cell Technologies (ARACT), had signed a technical licensing agreement with GIB EnergyX Slovakia, a Gotion High-Tech Co. Ltd. subsidiary.

As of 10:57 AM, the Amara Raja shares were trading 17.10% at Rs 1618.00.

Under the terms of the deal, GIB EnergyX will provide ARACT with a license to use Gotion’s cutting-edge LFP technology for lithium-ion batteries. This comprehensive arrangement allows Amara Raja to produce world-class LFP cells in cylindrical and prismatic form factors.

The scope of licensing includes access to cell technology IP, assistance in establishing Gigafactory facilities that adhere to the most recent generation process technologies, integration with Gotion’s global supply chain network for critical battery materials and customer technical support for solution deployment.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.