India's Exide Industries gains on reports of renewed govt push to improve battery exports

Exide Industries

05/09/2024 09:56

** Shares of batteries maker Exide Industries  EXID.NS  rise
3% to 499 rupees apiece
    ** India's minister for road transport and highways Nitin
Gadkari says the country will be the largest lithium ion battery
exporter in the world within five years, according to media
reports
    ** EXID, India's largest battery maker, could see gains from
focus on raising lithium ion battery exports
    ** India is not even among the top 15 lithium ion battery
exporters in the world, currently 
    ** Shares of EXID are up 57% in 2024 so far, outperforming a
29% rise in small-cap index  .NIFSMCP100  of which it is a
constituent
    
    
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))