India's Exide Industries rises on Hyundai Motor India EV deal

Exide Industries

20/12/2024 04:07

** Shares of Exide Industries  EXID.NS  rise 3% to 453
rupees
    ** The battery maker signs a binding term sheet with Hyundai
Motor India  HYUN.NS  for the production and supply of battery
cells for Hyundai Motor India's electric vehicles 
    ** Stock is set to snap a three-day losing streak but heads
for a second straight weekly loss
    ** Average rating of all analysts covering EXID is "hold"
and median PT is 470 rupees, ~4% higher than current price -
LSEG data
    ** EXID extends YTD gains to 40%
    

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))