Exide Industries Ltd gains 3.2 per cent after Morgan Stanley and Credit Suisse upgrade their ratings on the auto battery maker.
Credit Suisse upgrades Exide to “outperform” from “neutral”, citing a return in pricing power and a faster-than-expected correction in its replacement segment mix.
Meanwhile, Morgan Stanley upgrades Exide to “overweight” from “equal-weight”, also citing a recovery in replacement demand, further noting that Exide is “well placed” to benefit given its dealer network and output capacity.
Exide Technologies has a rich history spanning more than 120 years in the battery business. Our strengths demonstrate Exide’s position as a forerunner of industrial advancement around the world. With countless contributions to the growth of technology, our story, reflects the spirit of innovation and resilience at its best.
Today, Exide serves the complex stored energy needs of customers around the world. We provide services and systems that enhance vehicle performance and fleet utilization as well as those that reduce risk of temporary interruptions of power supplies. Our global footprint melds together our two significant bases of experience in transportation and industrial markets and provides for better and faster means of introducing innovations in products and services. Exide is working to change the way the world uses and stores electrical energy.Â Exide offers a broad range of employment opportunities around the world.