India's Exide Industries rises on investment in unit

Exide Industries

27/11/2024 07:09

** Shares of Exide Industries  EXID.NS  rise as much as 3.7%
to 441.4 rupees, last up 3.5%  
    ** Battery maker invests 1 bln rupees ($11.8 mln) in unit
Exide Energy Solutions, which makes lithium-ion battery cells
for electric vehicles
    ** The investment, on a rights basis, will be used to fund a
greenfield plant in Bengaluru city
    ** Avg rating of 17 analysts covering the stock is "hold"
and median PT is 470 rupees, ~6.8% higher than current price -
LSEG data
    ** EXID extends YTD gains to 38.7%

($1 = 84.4730 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))