India's Exide Industries falls on Q2 earnings miss

Exide Industries

04/11/2024 08:38

** Shares of Exide Industries  EXID.NS  fall 3.2% to 444.50
rupees, hitting their lowest since early June
    ** Battery maker misses Q2 net profit after tax and rev
estimates on dampened demand in auto original equipment
manufacturer (OEM) sector
    ** Busiest session for the stock in three weeks; more than
5.8 mln shares change hands 
    ** Avg rating of 16 analysts covering the stock at "hold"
while peer Amara Raja Energy & Mobility  AMAR.NS  also rated
"hold"
    ** EXID's median PT is at 502 rupees - LSEG data
    ** EXID ~40% so far this year, set for third straight year
of gains; AMAR up ~68% YTD 

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))