Technical Analyst Ashok Agarwal has maintained 'buy' rating on Exide Industries Ltd stock to achieve an intraday target of Rs 126.

According to him, interested traders can purchase the stock at Rs 121 with a stop loss of Rs 119.

The shares of the company, on April 26, closed at Rs 121.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 128.10 and a low of Rs 50.50 on BSE.

Current EPS & P/E ratio stood at 5.89 and 20.93 respectively.

Exide Industries Ltd declared that a meeting of the company's directors will be held on April 28, 2010, inter alia, to consider and sanction the audited financial outcomes and also the audited consolidated financial results for the twelve month period ended March 31, 2010.

Moreover, the directors would also consider recommendation of a final dividend, if any.

Exide Industries is a leading maker of automotive lead-acid batteries. It has production facilities in India as well as Sri Lanka.

The company makes the widest range of storage batteries in the world from 2.5 Ah to 20,400 Ah capacity, covering the broadest range of applications.

It has six manufacturing plant strategically situated across the country - two in Maharashtra, one in West Bengal, two in Tamil Nadu and one in Haryana. Exide separated from its UK-based parent, Chloride Group Plc., in the year 1989, after the latter disinvested its possession for a group of Indian stockholders.

Constant improvements assisted the company to manufacture the world's biggest range of industrial batteries extending from 2.5 Ah to 15000 Ah and covering a range of technology arrangements.