We re-iterate BUY on Exide Industries (EXID) as the company is in a sweet spot, 1) to ride intensified replacement market share gains (~1-2% in each segments) from unorganized players post lockdown, 2) entry with new OEMs to help strengthen its leadership, 3) channel checks indicate replacement demand to come back in high margin telecom segments, post lull of 2 -3 years...