Buy Exide Industries, target Rs 179: Microsec Research

Microsec Research recommends a buy on Exide Industries with a target price of Rs 179 and a strict stop loss placed at Rs 171. The stock has gained 19 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Exide Industries is a low beta stock (0.35) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 155.96, Rs 144.5 and Rs 144.35, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 23.87 and P/B of 3.44.