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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
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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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Broker Research
first published: Nov 13, 2020 12:32 pm

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