The Exchange has sought clarification from Amara Raja Energy & Mobility Limited with respect to recent news item captioned Amara Raja shares zoom 15% as firm crosses 1 GWh lithium storage deployment in telecom sector. The response from the Company is attached.
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The NSE/BSE sought clarification regarding a news article titled 'Amara Raja shares zoom 15% as firm crosses 1 GWh lithium storage deployment in telecom sector.' The company clarified that the 1 GWh milestone represents cumulative installations achieved over several years by the company and its subsidiaries, and does not constitute a new development or material event. References to giga factory plans, cell manufacturing, and capacity expansions mentioned in media articles are in line with prior disclosures already in the public domain. The company confirmed there is no unpublished price sensitive information or new material disclosure arising from the article.
The clarification indicates the 15% stock surge was based on old cumulative data rather than new developments, which may reduce the upward price momentum as investors digest that no fresh catalysts exist.