JPMorgan sees lithium-ion plant commissioning lifting India's Exide Industries

Exide Industries

24/09/2026 08:07

** Exide Industries EXID.NS announcement of its much-awaited commissioning of 6 GWh lithium-ion cell manufacturing facility is in line with management commentary, and could spur positive share price reaction, says JPMorgan
** Brokerage retains an "overweight" rating with price target of 514 rupees, implying a 20.7% upside for EXID
** EXID rises as much as 2.55% amid broader market drop; erases gains to trade flat on the day    
** Exide says the plant makes advanced cells across multiple chemistries and form factors for mobility and energy-storage applications
** JPMorgan expects a positive initial share reaction, although it says investors need greater visibility on customers
** Brokerage sees core operations firm, aided by price increases, lower lead costs and inverter demand
** Average rating of 16 analysts tracking EXID is "hold"; median price target of 433 rupees, according to data compiled by LSEG
** EXID up 17.5% in 2026 so far, according to exchange data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))