Sell Exide Industries, target Rs 227: Nooresh Merani

Independent analyst Nooresh Merani has a sell call on Exide Industries Ltd. with a target price of Rs 227. The current market price of Exide Industries Ltd. is Rs 238.7 Time period given by the analyst is Intra Day when Exide Industries Ltd. price can reach the defined target. Nooresh Merani recommended to keep stoploss at Rs 243. Exide Industries Ltd., incorporated in 1947, is a largecap company with a market cap of Rs 20289.50 crore.

Exide Industries Ltd. key Products/Revenue Segments include Batteries (Storage) which contributed Rs 9441.12 Crore to Sales Value (99.80 % of Total Sales), Export Incentives which contributed Rs 8.19 Crore to Sales Value (0.08 % of Total Sales), Scrap which contributed Rs 5.34 Crore to Sales Value (0.05 % of Total Sales) and Other Operating Revenue which contributed Rs 5.15 Crore to Sales Value (0.05 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Standalone sales of Rs 2720.35 Crore, down -1.88 % from last quarter Sales of Rs 2772.46 Crore and up 14.72 % from last year same quarter Sales of Rs 2371.32 Crore Company has reported net profit after tax of Rs 268.41 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.Surin Kapadia, Mr.Vijay Aggarwal, Ms.Mona N Desai. Company has BSR & Co. LLP as its auditoRs As on 30-09-2018, the company has a total of 850,000,000 shares outstanding.