Exide Industries Stock Hits 52-Week High (Image Source: PTI, iStockphoto)
The shares of Exide Industries witnessed a significant jump of over 4 per cent on Monday, reaching Rs 415.70 per share. The 52 week high and low of the share is Rs 423.80 and Rs 184.20 respectively.
Impressive Returns
Exide Industries has seen remarkable returns in recent periods, with gains of 33.20 per cent in the past two weeks, 35.53 per cent in the last month, and a staggering 57.58 per cent over the past six months. Over the last year, returns have reached 123.11 per cent, and an impressive 163.47 per cent over the last two years.
Morgan Stanley Bullish with Raised Target
Morgan Stanley maintains an overweight rating on Exide Industries, with a revised target price of Rs 485, up from Rs 373 previously.
Positive Outlook for Exide Industries
Exide Industries, India’s leading battery player, is set for significant growth in the coming years. Factors such as government support for “Made in India” electric vehicles (EVs), strong partnerships in the auto and industrial sectors, technological tie-ups, and being an early mover in the industry are all factors contributing to its positive outlook.
Strategic Cooperation in EV Market
In a recent development, Exide Energy Solutions Limited, a wholly owned subsidiary of Exide Industries Limited, has signed a non-binding Memorandum of Understanding (MOU) with Hyundai Motor Company and Kia Corporation. This strategic cooperation aims to develop, produce, and supply battery cells for Hyundai Motor’s electric vehicles specifically for the Indian market.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TN NOW DIGITAL suggests its readers/audience to
