Battery makers charged up for next leg of growth on replacement demand

Strong demand in the replacement market, pick-up in industrial consumption and relatively benign lead prices point to improved earnings prospects of battery makers Exide Industries and Amara Raja Batteries. Not surprisingly, Street sentiment too has improved in the past two months. Channel checks conducted by Sharekhan indicate that dealers are witnessing strong replacement demand in the two-wheeler and four-wheeler segments. Higher mobility on road has increased battery demand in replacement markets, which is a positive for the two companies as replacement demand accounts for nearly 70 .....

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