India's Exide Industries falls after Q1 profit misses estimates

Exide Industries

30/07/2024 09:47

** Shares of Exide Industries  EXID.NS  drop ~3% to 536.70
rupees
    ** Battery maker's Q1 profit after tax missed estimates as
rising raw material prices ate into profit 
    ** Trading volume 1.1x the 30-day moving average
    ** Avg rating on EXID at "buy", while rival Amara Raja 
 AMAR.NS  rated "hold" - LSEG data
    ** EXID gains 71% YTD while AMAR more than doubles in value 
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))