Exide Industries Races Past Competitor Amara Raja
23 out of 36 analysts tracked by Bloomberg have a ‘buy’ rating on Exide.
Exide Industries Ltd. has gained a little over 17.5 percent over the last six months while its peer Amara Raja Batteries Ltd. has dropped around 15 percent in the same period.
Year-to-date, Exide climbed 27 percent compared to Amara Raja’s 4 percent rise.
Exide's revamped business strategy, including a 10 percent price cut, new product launches, and faster replacements have helped the battery maker regain some of its lost market share, according to brokerage firm Emkay.
In comparison, Amara Raja has reported flat sales growth in 2016, and its decision to hike prices by 10 percent has lowered the price gap between the two battery makers’ products, the same brokerage said.
Twenty-three out of 36 analysts tracked by Bloomberg have a ‘buy’ rating on Exide.