India's Exide Industries jumps on beating Q2 profit view

Exide Industries

06/11/2023 08:17

** Shares of Exide Industries  EXID.NS  up as much as 3.34%
to 264.65 rupees
    ** Lead-acid battery maker's Q2 profit surged 16.5% to 2.87
billion rupees ($34.50 million), above analysts' average
estimate of 2.6 billion rupees
    ** Profit beat aided by steady vehicle sales in the quarter 
    ** Analysts' average rating is equivalent of "buy", their
median PT is 240 rupees
    ** About 2.5 mln shares changed hands as of 1:37 p.m. IST,
1.4x the 30-day average
    ** Shares last up 2.3%, they gained ~10% in the Sept-qtr 

($1 = 83.1820 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))