Moneycontrol PRO

Exide Industries: Exit from non-core business lays a sunny pitch

Exiting the non-core insurance business and overall demand outlook in both automotive and industrial segments remain strong, post the second wave of COVID, Exide is likely to get re-rated

September 07, 2021 / 03:02 PM IST
Exide Industries: Exit from non-core business lays a sunny pitch

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Exide Industries (CMP: Rs 188.5; M Cap: Rs 16,090 crore), one of the leading battery manufacturers, has exited its insurance business for a consideration of Rs 6,687 crore to HDFC Life Insurance. HDFC Life will pay Rs 726 crore in cash and would issue 87 million shares to Exide as the remaining amount, at Rs 685 per share, which would give Exide a 4 per cent ownership in HDFC Life. Exide had acquired the insurance business for Rs 1,679.59 crore from...

  • PRO Panorama

    Moneycontrol Pro Panorama | Who's afraid of the Fed's taper?

    Sep 23, 2021 / 05:03 PM IST

    In today’s edition of Moneycontrol Pro Panorama: Zee’s screen test, Chart of the Day, the road to taper and lift-off, Evergrande and bad loans, and more

    Read Now
  • PRO Weekender

    Moneycontrol Pro Weekender | Perfect storm over China

    Sep 18, 2021 / 10:34 AM IST

    From the Evergrande debt crisis to a slowing growth rate to the crackdown on technology companies to the growing confrontation with the West, the cup of woes is spilling over for China

    Read Now

To read the full story, Subscribe to Moneycontrol PRO

Access the exclusive stories, weekly investment ideas and daily technical calls in an Ad free experience

Already a member? Sign in

Limited Period offer on Moneycontrol PRO. Subscribe to PRO and get up to

50% OFF

What Do You Get

  • Ad free experience

    Experience a non-intrusive navigation and faster response in the ad free mode

  • Sharpest Opinions

    Access to 230+ exclusive stories per month from our editorial and Experts

  • +

    Have a Global edge with access to content from world renowned experts and journalist

  • Actionable Insights

    Access to 40+ weekly investment ideas including 4 daily technical calls

  • Virtual Events

    Exclusive access to live webinars from market experts on trading and investment strategies

  • Newsletters

    Daily and weekly insights bundled and sent to your inbox to keep you ahead in the race.

Get upto 50% discount on limited period offers