Buy Mid Cap Auto Ancillaries Stock For Gain, TP Rs 295: Vaishali Parekh Of PL

Brokerage firm Prabhudas Lilladher has recommended investors to buy Exide Industries Ltd shares with target price of Rs 295 apiece and maintain the stop loss at Rs 248 apiece. Current market price of Exide Industries share is Rs 260.75 per share with intraday gain of 1.09% on BSE. Exide Industries stock offered return of 47% in last 6-months, soared 69% in last 1-year, and gained 59% in last 3-years. Check details below:

Exide Industries Valuation: According to Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt, "The stock has witnessed a decent rally with a strong uptrend maintained and recently after peaking out near 280 zone has slightly slipped with profit booking and has taken support near the significant 50EMA level with 254 forming a good base where it has consolidated quite well and is well poised for further rise with signs of positive bias witnessed. The RSI is well placed currently cooling off from near the overbought zone and has indicated a trend reversal to signal a buy. We suggest to buy and accumulate the stock for an upside target of 295 keeping the stop loss of 248." Therefore, if you buy Exide Industries stock at current market price of Rs 260.75 apiece, you can fetch likely return of 13.14%.

Exide Industries Stock Outlook & Return: Last trading price of Exide Industries stock is Rs 260.75 per share on BSE. Its 52-week high price is Rs 280.00 apiece and 52-week low price is Rs 152.80 per share, respectively. It has a market capitalisation of Rs 22,163 crore. Exide Industries Shares offered shareholders rally of 47% in last 6-months, gained 44% YTD, soared 69% in last 1-year, and jumped 45% in last 2-years. In last 3-years, Exide Industries shares gained 59% and fell 1.66% in last 5-years.

Exide Industries Financials: The company announced a robust growth in operating profits despite firm raw material costs during the quarter ended June 30, 2023. Its standalone earnings before interest, taxes, depreciation, and amortization (EBITDA) soared by 11.7% YoY to Rs 432 crore. EBIDTA margin registered improvement of 10.6% in Q1FY24 as against 9.9% in Q1FY23.

Exide Industries About: Exide has nine factories strategically located all over India out of which 7 factories are dedicated to batteries and the other 2 factories manufacture Home UPS Systems. It is the only company with multi-locational manufacturing units spread across the country and equipped with cutting edge technology machines. EIL is India's leading storage battery company with widest range of both conventional flooded as well as latest VRLA batteries. Apart from serving the domestic market the company exports batteries which have captured niches in South East Asian and European markets, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.