Strong Q3 numbers electrify Exide

DALAL STREET SPIKES

Exide gained over 7 per cent from its previous close of Rs 80.55 to touch its 52-week high of Rs 90.90, before settling at Rs 86.40. The counter witnessed volumes of nearly 7 million shares, as against a two-week average traded quantity of just over five lakh shares.

The company posted a 58.3 per cent rise in net profit in Q3 FY07 compared with the same period last fiscal. The country's largest lead acid batteries maker by sales outperformed the market over the past one month till 11 January 2008, gaining 9.22 per cent, compared with the Sensex's return of 3.6 per cent.