Exide Industries moves up on the BSE

Exide Industries is currently trading at Rs. 126.10, up by 0.10 points or 0.08% from its previous closing of Rs. 126.00 on the BSE. The scrip opened at Rs. 127.10 and has touched a high and low of Rs. 129.35 and Rs. 125.80 respectively. So far 186014 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 143.30 on 17-May-2013 and a 52 week low of Rs. 99.05 on 27-Jan-2014. Last one week high and low of the scrip stood at Rs. 129.35 and Rs. 121.60 respectively. The current market cap of the company is Rs. 10710.00 crore. The promoters holding in the company stood at 45.99% while Institutions and Non-Institutions held 34.43% and 19.58% respectively. Credit rating agency, ICRA has reaffirmed the AAA rating to the Rs 300 crore fund based bank facilities and the Rs 400 crore non fund based bank facilities of Exide Industries (EIL). The outlook on the long-term rating is ‘Stable’. The rating agency has also reaffirmed the A1+ rating to the Rs 50 crore Commercial Paper (CP) programme of the company. The reaffirmation of the ratings takes into account the company’s dominant market position in the Indian lead acid storage battery industry, its well-diversified and established OEM customer base, strong brand equity and a large product portfolio with multiple brands positioned across the entire price spectrum. Exide Industries manufactures the widest range of storage batteries in the world from 2.5 Ah to 20,400 Ah capacities, covering the broadest spectrum of applications. EIL is India’s largest producer of automotive and industrial batteries, with seven manufacturing plants strategically located across the country.