India's Exide Industries jumps on deal to make batteries for Hyundai, Kia EVs

Exide Industries

08/04/2024 06:55

** Shares of Exide Industries  EXID.NS  up ~5%, on pace for
steepest intraday jump since late Jan
    ** Exide to make batteries for Hyundai  005380.KS  and Kia
 000270.KS  EVs in India
    ** Over 4.5 mln EXID shares traded, 2.3x the 30-day avg
    ** Analysts' avg rating on stock is "hold" and median PT is
330 rupees -LSEG data
    ** Including session's gains, stock up ~6% YTD, peer, Bosch
 BOSH.NS , Uno Minda  UNOI.NS  up ~9% and ~41%, respectively

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))