This Battery Maker Has Beaten The Rout
India’s largest battery maker stands out in market rout.
Exide Industries Ltd. is the only automotive stock that has returned gains this year, with its shares rising 15 percent. That compares with a 26 percent slide in the Nifty Auto Index and a 13 percent drop in shares of its peer Amara Raja Ltd.
Falling lead prices, new product launches, market share gains and an improving outlook of electric vehicle segment helped Exide outperform according to multiple analysts to whom BloombergQuint spoke.
About 70 percent of the analysts tracking the stock rate it a ‘Buy’, according to Bloomberg data. The consensus return potential for the next 12 months is close to 14 percent.