Battery maker Exide Energy has proposed to double its production capacity at its upcoming li-ion factory near the international airport, and requested the state government to allot an additional 40 acres of land.
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A large number of times whenever there had been a correction in the nifty, especially due to any specific sector like IT stocks coming under pressure it was financial service stocks including banks which have been able to help the nifty recover. In this phase of correction, some financial services sector stocks are also under pressure, though not very high. Will they be again coming to rescue of nifty or not ? We take a look at what analysts are saying for all the financial service stocks which are part of the Nifty financial services index.
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Exide Industries plans to regain its pre-pandemic EBITDA margin of 13-14% within the next one to two years after its current margin reached 10.6%. CEO Subir Chakraborty anticipates a turnaround in both the automotive and industrial sectors, but input costs have remained inconsistent. Chakraborty also indicated the company s Rs 6,000 crore lithium-ion cell manufacturing plant near Bangalore is advancing as planned, with commercial production to start in 2024-25.