Buy Exide Industries, target Rs 245.0 : Reliance Securities

Reliance Securities has Buy call on Exide Industries Ltd. with an intra-day target price of Rs 245.0 .The current market price of Exide Industries Ltd. is Rs 239.85. Reliance Securities recommended to keep stop loss at Rs 233.0 .

Exide Industries Ltd., incorporated in the year 1947, is a largecap company with a market cap of ₹ 20506.25 crore operating in Auto Ancillaries sector.

Exide Industries Ltd. key Products/Revenue Segments include Batteries (Storage) which contributed ₹ 7619.16 Cr to Sales Value (98.59 % of Total Sales) and UPS/Uninterruptible Power Supply Systems which contributed ₹ 108.19 Cr to Sales Value (1.40 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-03-2017, the company has reported a Standalone sales of ₹ 1963.58 Cr., up 13.81% from last quarter Sales of ₹ 1725.26 Cr. and up 11.54% from last year same quarter Sales of ₹ 1760.46 Cr. Company has reported net profit after tax of ₹ 164.78 Cr. in latest quarter. The company’s CEO is Mr.G Chatterjee. It's Board of Directors include Mr.Jitendra Kumar, Mr.Jitendra Kumar, 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 its registered office at Exide House,, 59E, Chowringhee Road, Kolkata, 700020, West Bengal. 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.