Short term trading Idea: Exide Industries (EIL) buy around 293 with SL of 264

Short term trading Idea:
Exide Industries (EIL)
buy around 293 with SL of  264 target:trailing basis
  • Exide Industries (EIL), India’s largest lead acid battery manufacturer, will benefit from strong primary automotive demand, new product launches; SOTP valuation
  • Company recently entered into JV with Swiss company Leclanche to manufacture and sell Lithium ion batteries and energy storage systems for EVs
  • Recovery in the auto OEM and industrial segments, growing replacement demand and company’s leadership position would drive revenue
  • EIL enjoys leadership position in the country with annual automotive and Industrial battery capacity
  • EIL is also engaged in the life insurance business through its subsidiary, Exide Life Insurance Company, managing AUM of over Rs12,200cr (FY18)

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