The electric mobility space is gaining momentum, and battery makers are in focus. The Amara Raja Energy & Mobility share price is down 17% so far in 2025, but is the worst over for the stock? Well, Nuvama Institutional Equities has a ‘Buy’ rating with the target price unchanged at Rs 1,120. This implies an upside of 12.6% from current levels for the Amara Raja Energy share price.

Nuvama on Amara Raja: Margins to expand

The Amara Raja management highlighted that the company the aftermarket auto replacement demand is expected to grow 6–7% for four-wheelers and 10–11% for two-wheelers in FY26.

Talking about the margins, the company stated that the EBITDA margin is likely to improve to 13% in Q4FY26 and 14% in FY27 from 11.5% in Q1FY26. The margins will be led by a lower trading share

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