Stock market analysts have maintained 'buy' rating on Exide Industries Ltd with an intraday target of Rs 115.

According to them, interested traders can purchase the stock around RS 113 with a strict stop loss of Rs 110.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 117.

Shares of the company, on Monday (Nov 23), closed at Rs 112.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 122.35 and a low of Rs 34.55 on BSE.

Current EPS & P/E ratio of the stock stood at 4.96 & 21.75 respectively.

Exide Industries on Nov 18 declared that its board has sanctioned the issuance of fifty million equity shares and/or any securities changeable into equity shares, with or without warrants, to QIBs via QIPs.

The abovementioned sanction is in line with the SEBI Conditions 2009.

In a declaration, Exide Industries stated that it is aiming at a bigger market share from the rustic market by strengthening the dealer network by 30% in the sector.

Exide was anticipating selling 2.5 lakh tractor batteries during the existing fiscal as against 1.7 lakh during the last fiscal.

The company's income from tractor battery sales stood at Rs 100 crore in an annual basis.

Moreover, the company has also launched Project Kissan to reach farmers through dealer network.