Exide Industries shares rally on smart jump in Q1 2014 earnings

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, July 22, 2014, 12:39 [IST]

Shares in Exide Industries gained almost 5 per cent in trade after the company's Q1 results surpassed expectations.

The shares were last trading higher by 5 per cent at Rs 166.25 on the National Stock Exchange. Exide reported a Q1 net profit of Rs 185.3 crore for the quarter ended June 30, 2014 as against the previous year's net profit of Rs 158.8 crore.

The stock was also upgraded by a leading brokerage firm.

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