Sell Exide Industries; target Rs 247: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a sell call on Exide Industries with a target price of Rs 247. The current market price of Exide Industries is Rs 257.95. Time period given by analyst is Intra Day when Exide Industries price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 262. Exide Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 21925.75 crore) operating in Auto Ancillaries sector.

Exide Industries key Products/Revenue Segments include Batteries (Storage) which contributed Rs 9441.12 crore to Sales Value (99.80 per cent of Total Sales), Export Incentives which contributed Rs 8.19 crore to Sales Value (0.08 per cent of Total Sales), Scrap which contributed Rs 5.34 crore to Sales Value (0.05 per cent of Total Sales) and Other Operating Revenue which contributed Rs 5.15 crore to Sales Value (0.05 per cent 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 per cent from last quarter Sales of Rs 2772.46 crore and up 14.72 per cent 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.