Multibagger Exide Industries Shares Extend Rally After Hyundai, Kia Ink Alliance with Arm

Small cap company Exide Industries Ltd shares extended its yesterday's rally after its subsidiary Exide Energy Solutions Limited inked MoU with Hyundai Motor Company ("Hyundai Motors") and Kia Corporation ("Kia") for strategic co-operation in India's EV market. Last trading price of Exide Industries shares on BSE is Rs 393.40 per share with intraday gain of 4.35%. Exide Industries Ltd shares hit fresh 52-week high today and witnessed rally of 4.35% at the time of writing the story. The company's market capitalisation is Rs 33,439.00 crore. Exide Industries shares hit back to back 52-week high after tocuhing upper circuit on April 8.

Exide Industries' Subsidiary Signs MoU With Hyundai Motors & Kia: As per the BSE filing of Exide Industries dated April 8, 2024, "Please be informed that Exide Energy Solutions Limited ("EESL"), the wholly owned unlisted subsidiary of Exide Industries Limited, has signed a non-binding Memorandum of Understanding (MOU) with Hyundai Motor Company ("Hyundai Motors") and Kia Corporation ("Kia") for strategic co-operation in India's EV market. According to this MOU, both the parties will work together for development, production and supply of battery cells for Hyundai Motor's electric vehicles dedicated to the Indian market."

Exide Industries Share Performance & Return: The 52-week high price of Exide Industries shares on BSE is Rs 398.05 per share and 52-week low price is Rs 179.00 per share, respectively. Exide Industries shares traded 52-week high today. The stock witnessed spurt in volume by over 3.46 times. There was spurt in volume on April 8 by over 6.79 times. Exide Industries shares gave return of 55% in last 1-year and soared 118% in last 1-year. In last 2-years, Exide Industries shares surged 143% and gained 111% in last 3-years.

Exide Industries About: EIL is India's largest storage battery company with widest range of both conventional flooded as well as latest VRLA batteries. Apart from serving the domestic market the company exports batteries which have captured niches in South East Asian and European markets. It has 9 factories situated all across India out of which 7 factories are dedicated to batteries and remaining 2 factories manufacture Home UPS Systems. It is the only company with multi-locational manufacturing units spread across the country and equipped with cutting edge technology machines, according to its official website.