India's Exide Industries rises on beating Q4 profit view

Eveready Industries India

30/04/2024 09:29

** Shares of Exide Industries  EXID.NS  up as much as 5.7%
to 481.65 rupees; last up 4.2% 
    ** The battery maker reported a 36.6% Y/Y rise in its Q4 PAT
to 2.84 bln rupees ($34 mln), above analysts' average estimate
of 2.72 billion rupees
    ** Revenue from operations rose 13.2% 
    ** Average rating of 18 analysts covering the stock is
"hold"; median PT is 350 rupees - LSEG data
    ** EXID up 48.4% YTD, outperforming its peers Eveready
Industries India  ERDY.NS  and Amara Raja Energy & Mobility
 AMAR.NS  which are up 0.52% and 37%, respectively 


($1 = 83.4852 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))