Perhaps I should have clarified my question a little.  The standard "amps measurement" capability of DMMs are less than 1A in most cases.  With the name "ammeter", I was referring to meters that can measure the higher amps that are usual in RC applications (10A to 40A is common, can go much higher too). 

So I was wondering about Karthik's suggestion that the need for resister load setup was just a DIY thing which adds no value compared to "out-of-the-box" functionality in common DMMs

with the miltimeter i got for Rs 100/- i can measure DC voltage upto 1kv
current upto 20Amps
AC voltage upto 750v
+ resistance and other miultimeter functions +it has a mode in which it emits sound when the resistances between the leads is less than 100 ohms ,i think a circuit can be made out of it to test the LiPo voltage using it as a LiPo alarm by using ohms law       R=V/I     keeping I(current) constant the resistance will purely depend upon the voltage of battery in our case a LiPo...experts please comment

thanks Mr Anwar but the multimeter i have seen till now measure voltage upto 20amps will search in market for better ones with higher values.....

regards

kartik

Some major points:

1. The "continuity test" actually feeds a voltage through the resistance and sounds an alarm if the resistance is below a certain threshold.

2. If you have a constant current source you will need added circuitry. The voltage drop across the LOAD will be inversely proportional to its resistance. Your meter,   the "load" in the mode above, does not behave like a simple resistance and you may well damage it by the voltage from the LiPo flowing into it!

3. The voltage drop across the terminals in the 20A current mode can be quite high. Also the resistance of the leads themselves can be significant. In short, not recommended to use your meter for this function.

I've already bought a multi meter..Can i use tat?

Pls explain what do you want to use it for.