Indian battery makers' gain on budget proposal to drop duties on key raw materials

Exide Industries

01/02/2025 08:41

** Shares of Indian battery makers rise as Finance Minister
Nirmala Sitharaman says battery-related raw materials will be
fully exempted from custom duties
    ** Shares of Amara Raja Energy & Mobility  AMAR.NS  and
Exide Industries  EXID.NS  up 3.4% and 3.6%, respectively
    ** Custome duty exemption proposed for cobalt powder and
waste, scrap of lithium-ion battery, lead, zinc and 12 more
critical minerals
    ** 35 additional capital goods for EV battery manufacturing
will be added to list of exempted capital goods
    

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))