Exide Industries Limited has recently experienced significant fluctuations in its share price, capturing the attention of investors. As of October 22, 2024, Exide’s share price is ₹463.45, reflecting a decrease of ₹23.40 (or 4.81%) from the previous trading session. This article analyzes the recent changes in Exide’s share price, expert opinions on whether to buy, hold, or sell, and an overview of the company’s financial health.
Exide Share Price in Today’s Market
In today’s trading session, Exide opened at ₹486.00 and reached a high of ₹488.90, while dipping to a low of ₹459.20. The stock’s decline from a previous close of ₹486.85 indicates bearish sentiment among investors. The trading volume has been substantial, with approximately 4,276,290 shares exchanged.
Exide Financial Overview
Exide’s financial metrics present a mixed operational performance amid recent price changes. The company boasts a market capitalization of around ₹39,172 crore and an enterprise value of ₹38,975.08 crore. The P/E ratio stands at 35.94, suggesting that the stock is trading at a premium relative to its earnings potential. The company reported an EPS of ₹12.83, with profit growth at 16.53%, indicating effective management and operational improvements.
Exide Pros & Cons
Pros:
→ Positive profit growth of 16.53%, reflecting effective cost management and revenue generation
→ Healthy sales growth of 9.85%, indicating increasing demand for its products
→ Substantial promoter holding at 45.99%, suggesting confidence from major stakeholders
Cons:
→ Recent fluctuations in share price may raise concerns about short-term volatility
→ High P/E ratio may deter value-focused investors
→ Limited dividend yield at 0.41%, which may not appeal to income-oriented investors
Indiahood Recommendation on Exide: Buy or Sell?
Based on current market dynamics and financial performance, Indiahood recommends that investors consider holding onto Exide shares for now. While the company shows potential for growth given its solid profit performance and substantial promoter confidence, ongoing market fluctuations necessitate caution before making new investments.
Others Recommendation on Exide: Buy or Sell?
Expert opinions on Exide shares are varied:
→ ICICI Direct maintains a ‘hold’ recommendation with a target price of ₹500, citing the company’s strong fundamentals and growth potential in the battery sector.
→ Motilal Oswal Financial Services suggests a cautious approach with a target price of ₹480, advising investors to monitor market conditions closely.
→ HDFC Securities recommends buying on dips due to the long-term potential of battery technology advancements.
→ Zerodha encourages investors to keep an eye on upcoming quarterly results to gauge improvements in profitability and overall performance.
→ Equity Pandit advises a wait-and-see approach, suggesting that investors wait for clearer signals before making significant moves.
Conclusion
In conclusion, while Exide presents opportunities within the battery manufacturing sector with its strong profit growth and substantial promoter confidence, its recent share price fluctuations necessitate careful consideration from investors. Holding shares may be prudent until clearer signals emerge regarding the company’s path to sustained profitability.
Disclaimer
This article is intended for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making investment decisions regarding Exide shares or any other securities. Feel free to copy and paste this formatted content!
