Exide Industries Ltd increases stake in JV to 82.71%

Exide Industries Limited ('EIL') has further invested an amount aggregating to Rs 39,99,99,999/- by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy Private Limited (hereinafter referred as 'NC').

With the above investment, the equity shareholding of EIL in JVC stands increased from 80.15% to 82.71 % of the total paid-up share capital.

NC is involved in manufacture, assembly, trade, sale and distribution of lithium ion batteries, module making and associated systems ("Products") in the Territory ("Battery Pack Assembly Plant") and contract manufacturing / sourcing of modules for third parties in the Territory on a case to case basis for strategic reasons as may be agreed between the Parties.

Shares of EXIDE INDUSTRIES LTD. was last trading in BSE at Rs.179.45 as compared to the previous close of Rs. 176.25. The total number of shares traded during the day was 1,60,884 and the deliverable quantity was 32,386 shares.

The stock hit an intraday high of Rs. 180.85 and intraday low of Rs. 175.55.

Source : Equity Bulls

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