Buy Exide Industries, target price Rs 198: Yes Securities

Yes Securities has buy call on with a target price of Rs 198. The current market price of Exide Industries Ltd. is Rs 181.75.

Time period given by analyst is Intra Day when Exide Industries Ltd. price can reach defined target.
Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 15453.00 Crore) operating in Auto Ancillaries sector.

Exide Industries Ltd. key Products/Revenue Segments include Batteries (Storage), Export Incentives, Other Operating Revenue, Scrap for the year ending 31-Mar-2021. Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3559.30 Crore, down -22.21 % from last quarter Total Income of Rs 4575.49 Crore and up 40.27 % from last year same quarter Total Income of Rs 2537.55 Crore. Company reported net profit after tax of Rs 31.54 Crore in latest quarter.

Investment Rationale
The stock has resumed its uptrend after testing the trendline support in the recent throwback. Further, RSI has also turned upwards after formation of a positive reversal pattern.

Promoter/FII Holdings
Promoters held 46 per cent stake in the company as of March 31, 2021, while FIIs held 11.9 per cent, DIIs 24.6 per cent and public and others 17.5 per cent.

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