Stock market analysts have maintained 'buy' rating on Amara Raja Batteries Ltd with an intraday target of Rs 182.

According to them, interested traders can purchase the stock above RS 180 with a strict stop loss of Rs 175.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 185.

Shares of the company, on Thursday (Nov 19), closed at Rs 179.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 171.90 and a low of Rs 30.50 on BSE.

Current EPS & P/E ratio of the stock stood at 16.59 & 10.79 respectively.

Amara Raja Batteries has posted a growth of 155% in its net profit at Rs 47.9 crore for the three month period ended September 30 as against Rs 18.8 crore in the corresponding period of 2008.

Net sales surged slightly to Rs 360 crore from Rs 339 crore in 2008.

During the first six months, the company's net profit came up to Rs 90.5 crore, whereas net sales increase to Rs 667 crore.

Mr. Jayadev Galla, Amara Raja MD, said that the increase in profits was assisted by operational efficiencies and cost-savings.

Recently, Amara Raja Batteries Ltd has been honored with the Best Telecom Equipment Maker, by telecom giant BSNL for 2008-09 under the group VRLA batteries.