ICICI Securities Ltd | Retail Equity Research Exide Industries (EIL), the market leader in the automotive battery space (market share >60%), is well placed to cater to the rising automotive demand. The positive impact of Seventh Pay Commission & normal monsoon is clearly visible in the strong OEM volume YTD growth of 11.9% YoY. We believe EIL is one of the preferred battery suppliers to major OEMs in India with a very strong relationship over the years. Further, assuming a three phase replacement cycle, we expect the...