Exide Industries may rally to Rs 140, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "I am pleased with the Exide's number, because it has surpassed the expectations and more satisfaction or the plus is that they have posted good operating profit margin."
He further added, "If one see the Exide in the past maybe about six quarterly results they have never have the consistent negatives or consistent disappointments over two or three quarter results, because generally the lead stocks which form 70% of the total raw material cost sometimes have the inventory losses in one quarter which we have in the last quarter as well, because of that the huge negatives have got built up in the stock. But I think now from hereon I am positive on the stock because if you see the stock having corrected close to about Rs 100 now, ruling at about Rs 125, but I am expecting that probably next month or so the stock can move to about Rs 140."
