India's battery makers gain after lithium-ion batteries get core auto component status

Exide Industries

26/03/2025 07:35

** Shares of battery makers Exide Industries EXID.NS and Amara Raja Energy AMAR.NS jump as much as ~5% before easing to ~1% gains

** Central Board of Direct Taxes includes lithium-ion batteries used in EVs, hybrids as core auto parts, which, say analysts, will bring tax advantages and boost sector's investment appeal

** "Move is beneficial for battery makers and the EV sector as it is expected to provide greater tax certainty," says Elara Capital

** EXID and AMAR are down 12.4% and 11.1% in 2025 so far

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))