Nomura has maintained its buy call on Exide, setting a target price of ₹589, indicating a potential upside of 32% from the current market price of ₹445. Exide’s Q2 revenue rose by 4% year-over-year, though it came in 4% below estimates. Additionally, the company’s EBITDA margin fell short of expectations, which were set at 12.4%.
Despite these results, Nomura remains optimistic, maintaining its view that industrial demand will grow by 12% in the first half of FY25-26. The brokerage’s positive outlook reflects confidence in Exide’s potential to capture future growth in industrial demand.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a financial advisor before making any investment decisions.
