Buy Exide Industries: Target Of Rs 192: Sharekhan
Sharekhan is bullish on Exide Industries recommended buy rating on the stock with a target price of Rs 192 in its research report dated November 10, 2020.
Nov 13, 2020 / 12:32 PM IST
Sharekhan's research repor on Exide Industries
Exide Industries (Exide) Q2 results were broadly in line with estimates. Demand is improving with topline recovering strongly to 6% growth in Q2 compared to 44% drop in Q1. We expect double digit growth in FY22 driven by normalisation of economic activities. Cost control and technological upgradation measures to result in margin improvement. P/E of ~12x FY23 core earnings is lower than long term historical average of 16-17x.
We recommend Buy with PT of Rs 192.
For all recommendations report, click here
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