India's Exide Industries hits over 2-month high

Exide Industries

11/10/2024 06:37

** Shares of Exide Industries  EXID.NS  rise as much as 3.8%
to 531.5 rupees, their highest levels since July 31
    ** The battery and power storage systems maker invested over
1 bln rupees (~$12 mln) in unit Exide Energy Solutions
    ** Unit engaged in making lithium-ion battery cells, modules
and packs for electric vehicles and stationary applications
    ** More than 6.2 mln shares change hands, 1.6x its 30-day
avg
    ** Sixteen analysts covering the stock on avg have a "hold"
rating; median PT is 502 rupees - LSEG data
    ** Stock up 67% so far this year

   ($1 = 83.9850 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))