2QFY2011 Result Preview - Exide Industries
Exide Industries is slated to announce its 2QFY2011 results today. We expect the
company’s top-line to grow by 26% yoy to Rs1,198cr backed by robust demand from the
automobile and industrial battery segment. EBITDA margin is expected to decline by
416bp yoy to 21.8% due to increase in the average lead prices during the quarter on a yoy
basis. However, bottom-line is expected to increase by 7.8% yoy to Rs161.4cr. Currently,
the stock is Under Review.
Tata Motors launches India’s first crossover vehicle, Tata Aria
Tata Motors has launched the first Indian crossover four-wheeler called the Tata Aria. The
crossover combines the features of a sports utility vehicle, a sedan and a multi utility
vehicle in one package. Tata Aria is from the new generation Tata platform, with power
provided by a 2.2 litre DICOR engine. The output is 140PS power and 320Nm torque. The
vehicle is being launched in three trim levels, all with 4x4 – the Aria Pride at the top end,
the Aria Prestige and the Aria Pleasure, each in eight colour options. Initially, the vehicle
will be available in 25 cities through 69 dealers. Tata Aria is likely to compete with the
Toyota Innova and Mahindra Xylo and is priced in the range of Rs13-16lakh. We believe
that the Aria will help Tata Motors to sustain its sales momentum going forward. We
maintain an Accumulate on the stock, with a SOTP Target Price of Rs1,214.
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