Buy Exide Industries, target Rs 304: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Exide Industries Ltd. with a target price of Rs 304.0 . The current market price of Exide Industries Ltd. is Rs 291.55 Time period given by the analyst is Intra Day when Exide Industries Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 284. Exide Industries Ltd., incorporated in 1947, is a largecap company with a market cap of Rs 24794.50 crore.

Exide Industries Ltd. key Products/Revenue Segments include Batteries (Storage) which contributed Rs 8590.55 Crore to Sales Value (99.90 % of Total Sales), Other Operating Revenue which contributed Rs 4.66 Crore to Sales Value (0.05 % of Total Sales) and Scrap which contributed Rs 3.44 Crore to Sales Value (0.04 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 2772.46 Crore, up 12.73 % from last quarter Sales of Rs 2459.41 Crore and up 31.84 % from last year same quarter Sales of Rs 2102.88 Crore Company has reported net profit after tax of Rs 209.92 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 30-06-2018, the company has a total of 850,000,000 shares outstanding.