Citi lifts Exide target on lithium-ion prospects; Kotak flags margin and return-ratio risks
Citi raised its Exide Industries target price to ₹510 from ₹410, citing resilient automotive and industrial demand and approaching lithium-ion cell commercialization. Kotak raised its target to ₹325 from ₹300 but retained a sell call, pointing to heavy capex, limited pricing power and technology dependence.
Citi raised Exide’s target price on strong automotive and industrial demand and upcoming lithium-ion cell commercialization. Kotak retained its sell call, citing high capex, limited pricing power, technology dependence and pressure on profitability and return ratios.
Why this matters
The split broker views follow Exide’s Q1 EBITDA margin lift to 12.4% from price hikes and cost controls, alongside Q1 profit growth driven by stronger replacement demand.
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