Goldman Sachs starts Exide Industries with 'buy'

Goldman Sachs has initiated coverage of Exide Industries with a buy hp pavillion dv9000 battery rating (on Conviction Buy List) and a target price of Rs 184 on back of trailing auto hp pavillion dv5 battery demand growth (over the previous 24-48 months) which will boost Indian battery industry revenues.
"India's battery industry could witness its hp pavilion dv6 battery strongest revenue growth during FY13-FY14, as vehicles sold in FY10-FY11 require replacement batteries," Goldman Sachs hstnn-db75 said in a note. "We believe the replacement market is likely to witness a strong recovery over the hp pavillion dv7 battery next 2 quarters," it added. At 10.05 a.m. shares were at Rs 155, up 1.21 per cent