Amara Raja shares rally 4% on partnership with Hyundai Motors for battery technology

Amara Raja Energy & Mobility's shares surged after Hyundai Motors India (HMIL) announced a partnership to use AMARON's India-made AGM batteries in its domestic lineup. HMIL aims to integrate these batteries by Q4 FY2024-25, becoming the first Indian auto OEM to utilize localized AGM technology. These batteries exceed conventional ones in durability and are better suited for Indian driving conditions.