Optimistic on Amara Raja Batteries, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Operationally, if you look at how the stocks are getting positions, specifically in the case of Amara Raja Batteries, a lot of expansion has happened over the last few quarters. We have actually seen volumes grow in that time period and now, what happens going forward with the tubular battery segment coming through, our own take is that earnings growth should be quite reasonable, though the earnings again were a little bit disappointing in terms of how the operating performance has been.""Our own take is over a longer run, the expected topline should grow at around 18-19 odd percent. You should have earnings before interest, taxes, depreciation and amortisation (EBITDA) margins sustain going forward. What happens with the industrial components specifically, on the telecom part with a lot of capital expenditure coming through, that should have significant improvement as well," he said."So, remain optimistic on Amara Raja from a long-term perspective."