Buy Exide Industries, target Rs 230: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Exide Industries with a target price of Rs 230.

The current market price of Exide Industries is Rs 223.15.

Time period given by analyst is intraday when Exide Industries price can reach defined target.

Kunal Bothra recommended to keep stoploss at Rs 219.

Exide Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 18,967.75 crore) operating in Auto Ancillaries sector.

Exide Industries key Products/Revenue Segments include Batteries (Storage) which contributed Rs 8,590.55 crore to Sales Value (99.90 per cent of Total Sales), Other Operating Revenue which contributed Rs 4.66 crore to Sales Value (0.05 per cent of Total Sales) and Scroreap which contributed Rs 3.44 crore to Sales Value (0.04 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 2,376.36 crore, up 21.02 per cent from last quarter Sales of Rs 1,963.58 crore and up 18.34 per cent from last year same quarter Sales of Rs 2,008.13 crore.

Company has reported net profit after tax of Rs 189 crore in latest quarter. The company’s top management includes Mr.A K Mukherjee, Mr.Arun Mittal, Mr.Bharat D Shah, Mr.G Chatterjee, Mr.Nawshir H Mirza, Mr.R B Raheja, Mr.Subir Chakraborty, Mr.Sudhir Chand, Mr.Vijay Aggarwal, Ms.Mona N Desai. Company has S R Batliboi & Co. LLP as its auditors. As on 31-03-2017, the company has a total of 850,000,000 shares outstanding.