Exide Industries is trading higher by 2% at Rs 162, also its 52-week high on the Bombay Stock Exchange on reports that the battery maker has hiked price across all categories by 5% with effect from today.
The stock has rallied 8% in past four trading sessions compared to a marginal 0.25% rise in benchmark Sensex ahead of its financial results for the quarter ended September 2012 on tomorrow October 19.
“The board of directors will also consider the proposal for payment of an interim dividend for the financial year ending March 31, 2013,” Exide Industries said in a filing.
Analyst at Emkay Global Financial Services expect the company to report margin improvement of 200 bps over the next two years and to stabilize at around 17% driven by higher replacement sales and higher capacity at its in-house smelters, which are a source of cheaper lead.