Amara Raja Energy Soars with GIB EnergyX Licensing Deal

Shares of Amara Raja Energy & Mobility Ltd surged by over 19% following a licensing agreement with GIB EnergyX Slovakia. The deal allows Amara Raja to manufacture lithium-ion cells using Gotion High-Tech's LFP technology, pushing the stock to a 52-week high.

Shares of Amara Raja Energy & Mobility Ltd ended over 19 per cent higher on Tuesday after its wholly-owned arm Amara Raja Advanced Cell Technologies Pvt Ltd signed a licensing agreement with GIB EnergyX Slovakia s.r.o., for lithium-ion cells technology.

According to the agreement, GIB EnergyX, a subsidiary of Gotion High-Tech Co Ltd, will license Gotion's 'LFP technology' for lithium-ion cells to Amara Raja Advanced Cell Technologies (ARACT). As a result, shares of Amara Raja Energy & Mobility Ltd (ARE&M) surged significantly.

The stock soared 19.99 per cent to hit the 52-week high of Rs 1,655.20 during the day on the BSE. It later ended at Rs 1,647, up 19.40 per cent. On the NSE, it rallied 19.99 per cent to Rs 1,656.05, hitting a 52-week peak before ending at Rs 1,650, higher by 19.56 per cent.

Volume trading was significant, with 10.32 lakh shares traded on the BSE and 212.81 lakh shares on the NSE. The agreement will enable Amara Raja to manufacture world-class LFP cells in cylindrical and prismatic form factors.

By licensing Gotion's technology, Amara Raja gains access to critical IP for cell technology, support for establishing advanced gigafactory facilities, and integration into Gotion's global supply chain network. The agreement signifies a major step forward for Amara Raja in the energy and mobility sector.

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