Tue, Feb 12, 2013 at 13:26
Exide Industries Ltd shares gain 1 percent after Bank of America Merrill Lynch upgrades the stock to "buy" from "underperform," given expectations of an "an imminent increase in pricing power in automotive batteries."
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BofA Merrill upgrades Exide to 'buy'; shares gain
Exide Industries Ltd shares gain 1 percent after Bank of America Merrill Lynch upgrades the stock to "buy" from "underperform," given expectations of an "an imminent increase in pricing power in automotive batteries."
Like this story, share it with millions of investors on M3
BofA Merrill upgrades Exide to 'buy'; shares gain
Exide Industries Ltd shares gain 1 percent after Bank of America Merrill Lynch upgrades the stock to "buy" from "underperform," given expectations of an "an imminent increase in pricing power in automotive batteries."
BofA Merrill also raises Exide's target price to Rs 160 from Rs 122 earlier.
The investment bank says an expected hike in battery prices also supported by capacity constraint at Exide rival Amara Raja Batteries Ltd Exide to raise replacement auto battery prices
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