Exide Industries advanced 2.81% to Rs 73.15 at 12:03 IST on BSE after the company acquired a 51% stake in Leadage Alloys India, an unlisted Bangalore-based lead smelting company, for Rs 34 crore.
The stock hit a high of Rs 74.05 and a low of Rs 70 so far during the day. The stock had a 52-week high of Rs 90.90 on
The company’s current equity is Rs 80 crore. Face value per share is Re 1.
The current price of Rs 73.15 discounts its Q4 March 2008 annualised EPS of Rs 3.14, by a PE multiple of 23.29.
Exide Industries posted 63.1% rise in net profit to Rs 62.82 crore on 49.4% growth in total income to Rs 796.36 crore in Q4 March 2008 over Q4 March 2007. The company’s net profit surged 61.28% to Rs 250.33 crore on 51.69% growth in total income to Rs 2,851.38 crore in FY 2008 over FY 2007.
Exide Industries is engaged in manufacturing and selling storage batteries. It manufactures lead acid storage batteries used for starting piston engines and other lead acid accumulators.
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