Exide Industries Q2 FY 2011 - 2012 result disappointed street and the stock corrected more than 7% immediately after the result was announced today. The company's Q2 net profit was down 71% at Rs 61 crore versus Rs 212 crore YoY. However the revenues were up 4% at Rs 1,176 crore versus Rs 1,127 crore, YoY. The OPM was at 7.7% versus 22% and the total expenditure was up at Rs 1,100 crore versus Rs 902 crore, YoY.The stock witnessed knee jerk reaction and fell below it crucial support zone of 125 to 130 (As shown in the chart below).
