Keynotes Financial Opiniery is bullish on Exide Industries has recommended buy rating on the stock with a target price of Rs 249 in its research report dated May 14, 2019.
Keynotes Financial Opiniery's research report on Exide Industries
Exide Industries Limited is India’s largest manufacturer of lead acid storage batteries for both automotive and industrial applications. Exide is also a comprehensive power storage solutions provider in the areas of equipment selection, battery sizing, optimum room layout, installation and operation and maintenance. At Exide, we specialize in both conventional flooded as well as the latest VRLA batteries. We design, manufacture, market and sell the widest range of lead acid storage batteries. Our manufacturing strength includes nine factories strategically located all over India, of which seven factories are dedicated to batteries and the other 2 manufacture home UPS systems. Our international collaborations are instrumental in keeping us ahead of the competition curve.
On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 249/- share an upside of 15% from current levels.
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