Exide Industries was trading 3% lower at Rs 173 on the BSE on profit booking after the company reported 24.5% year-on-year (YoY) jump in net profit at Rs 193 crore for the quarter ended June 30, 2016 (Q1FY17), on back of double digit growth in operational
Banking on cost control and technology upgradation to improve its profit margins, Exide Industries posted an increase of near 26 per cent in its net profit at Rs 196.05 crore for the quarter ended June 30, 2016. The net profit in the corresponding
The stock has started moving after consolidating for the last fourteen weeks and has crossed its multiple hurdles at the 162 zone. Recently, the stock has taken support near Rs 155 and is holding well above its 50-DMA.
Shares of Exide Industries dipped 3% to Rs 139, also their 52-week lows on the BSE, after the company reported a 16.2% year-on-year (YoY) decline in net profit at Rs 155 crore for the quarter ended June 30, 2015 (Q1), due to lower sales.
Lower lead prices, stable pricing and value unlocking in its insurance subsidiary could lead to more upsides in Exide Industries. Lead prices, the key raw material in the manufacture of batteries, are down about 7% from September quarter levels.
Extending losses Exide Industries has slipped further to around 3.5% on BSE after the Bank of America -Merrill Lynch downgaded the company's stock to 'neutral' citing erosion of pricing power and growing strength of main rival Amara Raja
Through the past three trading sessions, the Exide Industries stock has gained 10 per cent, as the company is expected to be a major beneficiary of a turnaround in the fortunes of the automobile sector (Exide is the largest supplier of batteries to car
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.