The Exide scrip has gained 24 per cent since May on expectations of better performance of its inverter business, as well as recovery in the automobile sector. Power shortage in key states such as Uttar Pradesh has also helped increase sales.
The Exide Industries stock has been touching its 52-week lows last week and over the last month and a half has lost 19%. The fall is on the back of a poor September quarter performance and earnings downgrades thereafter.
Following better margins, higher other income and lower tax rate, we have increased our EBITDA/PAT estimates by 5.1%/11.2%, respectively, for FY14 and by 4.6%/12.2%, respectively, for FY15. We have valued JDL by assigning equal weight to EV/EBITDA and
Exide Industries Ltd is in separate talks with Canada's Manulife Financial Corp and Samsung Life Insurance Co to sell a 26% stake in its life insurance unit, two sources with direct knowledge of the matter said.
Battery manufacturer Exide has been able to reverse the spot it found itself in in the first half of 2012-13 (April-June, 2012). It had been unable to effect price hikes and had lost market share in automotive batteries.
Battery maker, Exide Industries, which is scouting for a foreign partner for its recently acquired wholly-owned subsidiary ING Vysya Life Insurance Company, today said it would not sell its own stake in the insurance business, but will look for fresh
Exide Industries is trading higher by 3% at Rs 126 after reporting a better-than-expected 4.6% year-on-year (yoy) growth in net profit at Rs 159 crore for the quarter ended June 30, 2013 on back of strong operating performance.
The Exide stock is down 3.4% in three trading sessions after the company, pegged back by slowing OEM (original equipment manufacturers) sales, disappointed the Street on the sales numbers for the March 2013 quarter.